Friday,23 February 2024 08:47:36

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Friday,23 February 2024 at 08:46

UK and European stocks opened mixed, shaking some positive momentum after the pan-European benchmark closed at a record high in the previous session.

Asia-Pacific markets were mostly higher with China stocks rising for the ninth straight session as investors digested property prices data.

Gold prices inched higher and were on track for their first weekly rise in three, as a broadly weaker U.S. dollar and growing tensions in the Middle East lifted bullion’s appeal.

Oil prices fell after a U.S. Fed official said interest rate cuts should be delayed at least two more months.

In corporate news, Asia-focused bank Standard Chartered unveiled a new $1bn buyback, increased dividend and higher annual profits, but reined in guidance on income for the current year.

The bank reported an 18% rise in pre-tax profit to $5.1bn and lifted its full-year dividend 50% to 27 cents a share, well above estimates of 23.7 cents.

However, it also forecast income growth at the upper end of 5-7% this year, down from the previous estimate of 8-10% given last October. The lender reported a 13% rise in income in 2023 on a constant currency basis.

Markets

At 08:15

FTSE 100 7,690 +0.08%

FTSE 250 19,207 (-0.30%)

DAX 17,376 +0.03%

At the close

Dow Jones 39,069 +1.18%

S&P 500 5,087 +2.11%

NASDAQ 16,041 +2.96%

Fixed Income

UK 10-YR YIELD 4.126

Exchange Rates

GBP/USD 1.267

GBP/EUR 1.169

Commodities

Gold $2,020 (-0.17%)

Brent $83.02 +0.49%

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.