Tuesday,12 March 2024 08:40:41

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Tuesday,12 March 2024 at 08:39

UK and European markets headed for a higher open as global investors await the latest U.S. inflation report.

Hong Kong’s Hang Seng index rose over 3% to lead gains in Asia-Pacific markets and was set to extend its winning streak to three days, while mainland China’s CSI 300 rose 0.23% to close at 3,597.49.

Gold prices slipped from near record-high levels as traders braced for key U.S. inflation report that could give more clarity on when the Federal Reserve might start cutting its interest rates.

Oil prices rose in early Asian trading, but price moves were limited as the market waited for monthly reports from oil agencies.

In corporate news, pizza chain Domino's reported increased profit, cashflow and shareholder returns in 2023 on the back of solid organic growth, as it announced plans to open 70 new stores in 2024 and hit £2bn in sales within four years.

System sales totalled £1.57bn in the 12 months to 31 December, up 5.8% on 2022, with like-for-like systems sales rising 5.8%.

The company also revealed its was acquiring full control of Shorecal, the largest Domino's franchise business in the Republic of Ireland and Northern Ireland for €72m.

Markets

At 08:15

FTSE 100 7,728 +0.76%

FTSE 250 19,562 +0.17%

DAX 17,786 +0.23%

At the close

Dow Jones 38,769 +0.12%

S&P 500 5,117 (-0.11%)

NASDAQ 16,019 (-0.41%)

Fixed Income

UK 10-YR YIELD 4.031

Exchange Rates

GBP/USD 1.278

GBP/EUR 1.170

Commodities

Gold $2,177 (-0.23%)

Brent $82.52 +0.39%

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.