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Thursday,12 May 2022 at 07:35

UK & European stocks fell sharply at the open as global markets digest the latest inflation reading out of the United States..

Shares in Asia-Pacific were lower as tech stocks sold off following overnight losses on Wall Street.

Oil prices dropped in a volatile week as economic concerns and recession fears dogged global financial markets, outweighing supply concerns and geopolitical tensions in Europe.

Gold gained after U.S. consumer price data suggested inflation might have peaked in April, allaying some concerns of more aggressive Fed rate hikes.

In corporate news, retailer JD Sports said that like-for-like sales were more than 5% higher year-on-year, driven by both the "strength and breadth" of its brand relationships and category offerings.

The FTSE 100 firm believes that headline pre-tax profits for the year ending 28 January 2023 will at least be equal to that for the year ended 29 January 2022, which it expects to be approximately £940.0m. 

At 08:15
FTSE 100 7,183 (-2.25%)
FTSE 250 19,299 (-1.77%)
DAX 13,522 (-2.21%)
At the close
Dow Jones 31,834 (-1.02%)
S&P 500 3,935 (-1.65%)
NASDAQ 11,364 (-3.18%)
Fixed Income
UK 10-YR YIELD 1.733
Exchange Rates
GBP/USD 1.218
GBP/EUR 1.166
Gold $1,847 (-0.28%)
Brent $104.70 (-2.10%)
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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