Wednesday,15 June 2022 08:20:17

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Wednesday,15 June 2022 at 07:24

UK & European stocks opened higher as global markets await the latest monetary policy decision from the U.S. Federal Reserve.

Shares in China led gains in mixed Asia-Pacific trading following the release of better-than-expected Chinese economic data.

Oil prices dropped on worries over fuel demand ahead of a U.S. Federal Reserve meeting which is expected to see the central bank to hike rates by at least 75 basis points to combat inflation.

Gold prices were lifted from near one-month lows by weaker Treasury yields.

In corporate news, WH Smith said it expected annual results to be at the upper end of expectations as it reported a surge in revenue over pre-Covid pandemic levels for the first time, driven by a recovery in the travel market.

The newsagent, which runs stores on the high street as well as train stations and airports, said sales in the 15 weeks to June 11 were up 107% on the same period in 2019.

Markets

At 08:15

FTSE 100 7,237 +0.68%

FTSE 250 19,271 +1.19%

DAX 13,473 +1.27%

At the close

Dow Jones 30,364 (-0.50%)

S&P 500 3,735 (-0.38%)

NASDAQ 10,828 +0.18%

Fixed Income

UK 10-YR YIELD 2.593

Exchange Rates

GBP/USD 1.201

GBP/EUR 1.146

Commodities

Gold $1,819 +0.64%

Brent $120.94 +0.06%

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.