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US stock market hits record high after Donald Trump's victory US stock market hits record high after Donald Trump's victory
(about 3 hours later)
The Dow Jones hit an all time high on Thursday, defying many predictions of a market meltdown in the wake of Donald Trump's shock election victory. The Dow Jones hit an all time high on Thursday, defying many predictions of a market meltdown in the wake of Donald Trump's shock election victory. 
The US index of leading shares hit 18,762.92 points, its highest ever level, before falling back to 18,711. The US index of leading shares hit 18,781 points, its highest ever intra-day level.
European stocks also rose on Thursday following large gains in Asia, as exuberance shot through the markets at the prospect of Trump as the next president of the United states.European stocks also rose on Thursday following large gains in Asia, as exuberance shot through the markets at the prospect of Trump as the next president of the United states.
Anyone who bought German or French shares during Trump's victory speeh on Wednesday morning has seen a 4 per cent boost in their value. Anyone who bought German or French shares during Trump's victory speeh on Wednesday morning has seen a 4 per cent boost in their value.
The jump defies the doom-laden predictions of many City analysts who predicted a huge sell-off, if the Republican was victorious.The jump defies the doom-laden predictions of many City analysts who predicted a huge sell-off, if the Republican was victorious.
The consensus view that Trumps unpredictability and protectionist economic policies would spook world markets has prooved incorrect as shares have rebounded strongly.The consensus view that Trumps unpredictability and protectionist economic policies would spook world markets has prooved incorrect as shares have rebounded strongly.
The FTSE 100 jumped up 1 per cent within minutes, before falling back. It is now around 150 points above its level of the day before Tuesday's election. The FTSE 100 jumped up 1 per cent within minutes, but fell back to end the day 1.25 per cent down but still above where it stood before Tuesday's election.
Banks gained on the propect of relaxations on Wall Street regulation, with Barclays up 5 per cent and RBS rising 6 per cent. On the other side of the pond, JP Morgan and Goldman Sachs were also trading up.  Banks gained on the prospect of relaxations on Wall Street regulation, with Barclays up 4 per cent and RBS rising 4.5 per cent. On the other side of the pond, JP Morgan and Goldman Sachs also rose. 
Trump's promises to boost defence spending saw BAE Systems add another 6 per cent to its strong Wednesday gains. Mining shares also rose, buoyed by Trump's promise of increased infrastructure spending.   
Asian equities saw big gains on Thursday, joining a goldrush across world markets, with Japan's Nikkei up almost 7 per cent and Hong Kong's Hang Seng index up 2 per cent.  Trump's promises to boost defence spending saw BAE Systems add another 5
Trading floors were awash in red on Wednesday as investors reacted to news that the firebrand tycoon had defeated establishment candidate, Hillary Clinton, upending expectations. Trading floors were awash in red on Wednesday as investors reacted to news that the firebrand tycoon had defeated establishment candidate, Hillary Clinton.
However, a reassuring victory speech - followed by calls by Clinton and President Obama to get behind Trump - provided some encouragement to traders, sending risk assets rallying. However, a reassuring victory speech - followed by calls by Clinton and President Obama to get behind Trump - provided some encouragement to traders, sending stock markets into a rally.
Most markets in Asia either wiped out or clawed back most of the previous day's losses, while the dollar pushed higher.Most markets in Asia either wiped out or clawed back most of the previous day's losses, while the dollar pushed higher.
The currency had come under pressure as traders worried that Trump's negative impact on the economy would cause the Federal Reserve to hold off an interest rate rise, but analysts said those worries had abated for now.The currency had come under pressure as traders worried that Trump's negative impact on the economy would cause the Federal Reserve to hold off an interest rate rise, but analysts said those worries had abated for now.
Tokyo closed up 6.7 percent, with a plunging yen also providing support. The dollar dallied with 106 yen before easing slightly, well up from Wednesday's low of 101.20 yen. There were also gains of more than one percent in Singapore and Manila.
In the afternoon Hong Kong gained 2.1 percent and Shanghai closed 1.4 percent up. Sydney closed 3.3 percent higher, Seoul jumped two percent and Taipei put on 2.4 percent.  
There were also gains of more than one percent in Wellington, Singapore and Manila.
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