Friday,23 February 2024 17:03:49

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Friday,23 February 2024 at 17:03

UK and European stocks closed higher, extending positive momentum after the pan-European benchmark finished at a record high.

The U.S. dollar index was on track for its first weekly fall in 2024 as investors took a breather from buying the currency following an almost two-month rally.

Oil prices fell and were on track for a weekly decline after the U.S. central bank indicated that interest rate cuts could be delayed by at least two more months.

Gold prices rose, and were on pace for a slight weekly gain buoyed by a softer dollar and safe-haven demand from escalating tensions in the Middle East.

Hornby surged on Friday after Mike Ashley’s Frasers Group lifted its stake in the model train maker to 8.9%.

Frasers - which also owns stakes in Boohoo, Asos, Currys and AO World, among others - bought just over 11.1m shares in the company, taking its total holdings to just under 15.2m.

Markets

At the close

FTSE 100 7,706 +0.28%

FTSE 250 19,179 (-0.44%)

DAX 17,419 +0.28%

At 16:55

Dow Jones 39,201 +0.34%

S&P 500 5,092 +0.11%

NASDAQ 16,011 (-0.19%)

Fixed Income

UK 10-YR YIELD 4.032

Exchange Rates

GBP/USD 1.268

GBP/EUR 1.170

Commodities

Gold $2,036 +0.70%

Brent $81.84 (-0.94%)

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.