Thursday,14 December 2023 08:39:07

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Thursday,14 December 2023 at 08:39

UK & European markets rallied at the open as investors reacted positively to the U.S. Federal Reserve’s signal that interest rate cuts will take place next year.

Asia-Pacific equity markets ended mostly mixed with investors digesting the U.S. Federal Reserve’s move to end its interest-rate-hiking cycle.

Gold prices extended their climb to a one-week high after comments from the U.S. Federal Reserve.

Oil prices rose in early Asian trade, extending gains from the previous session following a bigger-than-expected weekly withdrawal from U.S. crude storage.

In corporate news, electrical retailer Currys held annual guidance as interim losses narrowed and its Nordics unit reported an improvement in gross margins.

The company posted a loss before tax of £46m, compared with a loss of £548m a year earlier. UK like-for-like revenue fell 3% to £2.2bn.

Markets

At 08:15

FTSE 100 7,697 +1.98%

FTSE 250 19,198 +2.69%

DAX 16,981 +1.27%

At the close

Dow Jones 37,090 +1.40%

S&P 500 4,707 +1.37%

NASDAQ 14,733 +1.38%

Fixed Income

UK 10-YR YIELD 3.677

Exchange Rates

GBP/USD 1.262

GBP/EUR 1.158

Commodities

Gold $2,037 +0.52%

Brent $74.90 +0.46%

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.