Friday,01 March 2024 08:57:15

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Friday,01 March 2024 at 08:55

UK and European markets moved higher to start the new trading month after a winning February, with euro zone inflation data due mid-morning.

Japan’s Nikkei 225 ended just short of breaching the 40,000 level, leading gains in Asia stocks while China markets rose as investors digested manufacturing data from the mainland.

Gold prices hovered near a month high after data suggested easing U.S. price pressures, while traders awaited remarks from several Federal Reserve officials.

Oil prices rose and were set to end the week modestly higher as talks over a potential ceasefire in Gaza were further complicated by the deaths of more than 100 Palestinians waiting for an aid delivery.

In corporate news, specialist engineer IMI reported a 12% jump in 2023 profits and forecast higher earnings this year, driven by a strong order book.

Pre-tax profit for the year to December 31 came in at £387m compared with £346m a year ago.

The company now expects adjusted earnings of 120p to 126p a share.

Markets

At 08:15

FTSE 100 7,664 +0.45%

FTSE 250 19,118 +0.34%

DAX 17,763 +0.48%

At the close

Dow Jones 38,996 +0.12%

S&P 500 5,096 +0.52%

NASDAQ 16,091 +0.90%

Fixed Income

UK 10-YR YIELD 4.294

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.168

Commodities

Gold $2,039 (-0.21%)

Brent $81.94 (-0.01%)

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.