Thursday,30 November 2023 16:38:57

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Thursday,30 November 2023 at 16:40

UK & European markets rose, as regional investors responded to euro zone inflation data that suggested pressures from rising prices are easing.

The dollar gained, boosted by month-end buying, despite data showing signs of a slowing U.S. economy that suggested the Federal Reserve may be done raising interest rates and start easing by the middle of next year.

Gold slipped but stayed on track for a second straight monthly gain as expectations that the Federal Reserve may soon cut interest rates enhanced the appeal of non-yielding bullion.

Oil prices were higher as investors eagerly awaited the outcome of an anticipated OPEC+ meeting that could lead to deeper supply cuts in 2024.

In Corporate news, Mike Ashley’s Frasers Group said on Thursday that it has backed out of plans to buy SportsCheck after the German sports retailer filed for insolvency.

Frasers, which owns Sports Direct and House of Fraser, among others, announced in October that it had agreed to buy SportsCheck from Signa Retail Department Store Holding for an undisclosed sum.

The retailer said it was disappointed by the insolvency of SportScheck, but continues to believe it’s "an attractive asset in one of Europe's most important markets for sports". Frasers said it plans to work with the appointed preliminary insolvency administrator with a view to buying the SportScheck business/assets out of administration.

"Frasers remains committed to our ambition to become the leading sports retailer in EMEA," it said.

Markets

the close

FTSE 100 7,444 +0.29%

FTSE 250 18,255 (-1.15%)

DAX 16,234 +0.43%

16:30

Dow Jones 35,762 +0.94%

S&P 500 4,551 +0.03%

NASDAQ 14,185 (-0.51%)

Fixed Income

UK 10-YR YIELD 4.168

Exchange Rates

GBP/USD 1.264

GBP/EUR 1.158

Commodities

Gold $2,038 (-0.27%)

Brent $80.15 (-2.95%)

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.