Thursday,22 February 2024 17:00:38

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Thursday,22 February 2024 at 17:00

UK and European stocks powered higher, taking the benchmark index to a record close as investors assessed earnings and data showing light ahead for the regional economy.

The dollar fell as traders digested a slew of largely better-than-expected business activity surveys looking for implications for interest rates.

Crude oil futures were slightly lower as a senior Israeli official sees initial signs of progress toward a deal to release hostages held in Gaza and as the market awaits for U.S. inventory data.

Gold prices edged higher while investors await more U.S. economic data that could shed light on the Federal Reserve’s interest rate outlook.

Lloyds Bank on Thursday reported a 57% jump in full-year profits and announced another £2bn share buyback, but also set aside £450m for the regulatory probe into UK motor financing.

The initial provision to cover potential claims from the Financial Conduct Authority's review into suspected overcharging by car finance lenders will be a concern to investors, and the bank admitted there was "significant uncertainty" around the extent of any misconduct linked to its Black Horse division, which holds £15.3bn in loans.

Markets

At the close

FTSE 100 7,684 +0.29%

FTSE 250 19,263 +0.76%

DAX 17,370 +1.47%

At 16:55

Dow Jones 38,879 +0.69%

S&P 500 5,066 +1.70%

NASDAQ 15,964 +2.46%

Fixed Income

UK 10-YR YIELD 4.113

Exchange Rates

GBP/USD 1.264

GBP/EUR 1.169

Commodities

Gold $2,020 (-0.24%)

Brent $83.61 +0.61%

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.