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Thursday,20 January 2022 at 08:27

UK and European stocks opened higher as investors appeared to brush off concerns about rampant inflation.

Markets in Asia-Pacific mostly rose as China cut its key lending rates.

Oil steadied as strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014.

Gold prices steadied with higher U.S. Treasury yields preventing any gains amid caution building around developments at the U.S. Federal Reserve’s meeting due next week.

In corporate news, Associated British Foods said fourth-quarter sales at its Primark stores had been hit by the surge in Covid Omicron cases, but were now showing signs of recovery as it maintained full-year guidance.

Retail sales were 36% ahead of last year at £2.6bn on a constant currency basis with operating profit margin ahead of expectations. 

Markets
At 08:20
FTSE 100 7,617 +0.38%
FTSE 250 22,743 +0.37%
DAX 15,845 +0.22%
At the close
Dow Jones 35,028 (-0.96%)
S&P 500 4,532 (-0.97%)
NASDAQ 14,340 (-1.15%)
Fixed Income
UK 10-YR YIELD 1.257
Exchange Rates
GBP/USD 1.363
GBP/EUR 1.199
Commodities
Gold $1,841 +0.03%
Brent $87.52 (-0.14%)
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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