Wednesday,19 January 2022 08:20:47

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Wednesday,19 January 2022 at 08:24

UK and European stocks opened lower as global markets take a downturn after a sell-off on Wall Street on Tuesday, prompted by rising bond yields and worse-than-expected earnings.

Asia-Pacific markets fell following an overnight sell-off on Wall Street.

Oil prices rose as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates.

Gold prices fell towards the previous session’s one-week low as the prospect of aggressive rate hikes by the U.S. Federal Reserve sent benchmark Treasury yields to two-year highs, reducing the appeal of non-yielding bullion.

In corporate news, fashion retailer Burberry reported a 5% rise in third quarter revenues driven by an acceleration in full price sales.

The company said revenue for the 13 weeks to December 25 came in at £723m compared with £688m.

Markets

At 08:20

FTSE 100 7,560 (-0.04%)

FTSE 250 22,581 (-0.32%)

DAX 15,636 (-0.85%)

At the close

Dow Jones 35,368 (-1.51%)

S&P 500 4,577 (-1.84%)

NASDAQ 14,506 (-2.60%)

Fixed Income

UK 10-YR YIELD 1.224

Exchange Rates

GBP/USD 1.359

GBP/EUR 1.199

Commodities

Gold $1,813 (-0.02%)

Brent $88.08 (-0.46%)

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.