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Friday,14 January 2022 at 08:24

UK and European stocks opened lower, following global momentum as a fresh round of hawkish comments from Federal Reserve officials resurfaced expectations for imminent policy tightening.

Stocks in Asia-Pacific markets were lower as the recent rally in U.S. stocks broke momentum with the Nasdaq snapping a three-day winning streak.

Oil prices were mixed with growing concerns that Washington may soon act to cool prices, while movement controls in China to rein in a Covid-19 outbreak weighed on fuel demand.

Gold prices gained as investors await economic data that could provide clarity about U.S. Federal Reserve’s tapering policy, while a weaker dollar and Treasury yields supported bullion.

In corporate news, electricals retailer Currys reported a fall in sales over the peak Christmas period as a tough comparator year, uneven customer demand and supply disruption hit revenues.

The company said revenue for the 10 weeks to January 8 fell 5% year-on-year but rose 4% versus 2019 before the Covid pandemic struck. It guided for annual pre-tax profits of £155m. 

Markets
At the close
FTSE 100 7,549 (-0.19%)
FTSE 250 22,836 (-0.53%)
DAX 15,902 (-0.80%)
At 08:15
Dow Jones 36,113 (-0.49%)
S&P 500 4,659 (-1.42%)
NASDAQ 14,806 (-2.51%)
Fixed Income
UK 10-YR YIELD 1.121
Exchange Rates
GBP/USD 1.373
GBP/EUR 1.197
Commodities
Gold $1,828 +0.32%
Brent $84.92 +1.02%
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.

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