Wednesday,21 February 2024 08:36:27

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Wednesday,21 February 2024 at 08:35

UK and European stocks opened mixed as regional markets struggle to find positive momentum.

Asia-Pacific markets traded mixed following Wall Street losses, while investors assessed Japan’s trade data and souring business sentiment among large manufacturers.

Gold priced higher in early trade.

Oil prices regained some ground in early Asian trade, as investors weighed concerns over output cuts by key producers and attacks on shipping in the Red Sea against dimmed expectations of U.S. rate cuts.

In corporate news, HSBC posted a record jump in annual profits and announced a $2bn share buyback but missed forecasts as it was forced to take a $3bn hit from its exposure to a Chinese bank.

The Asia-focused lender said full-year pre-tax profit rose 78% to $30.3bn driven by high global interest rates, but below the $34.1bn average estimate of brokers compiled by the bank.

However it also took a $3bn impairment on the its stake in China's Bank of Communications.

Markets

At 08:15

FTSE 100 7,670 (-0.62%)

FTSE 250 19,121 +0.06%

DAX 17,105 +0.21%

At the close

Dow Jones 38,563 (-0.17%)

S&P 500 4,975 (-0.60%)

NASDAQ 15,630 (-0.92%)

Fixed Income

UK 10-YR YIELD 4.073

Exchange Rates

GBP/USD 1.261

GBP/EUR 1.167

Commodities

Gold $2,027 +0.18%

Brent $81.84 (-0.09%)

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.