Thursday,21 March 2024 09:00:14

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Thursday,21 March 2024 at 08:58

UK and European markets opened higher, with investors in the region keeping an eye on the latest monetary policy decisions from the Bank of England, Norges Bank and the Swiss National Bank.

Japan stocks closed at fresh all-time highs as Asia markets climbed after the Federal Reserve maintained its forecast for three rate cuts this year, while holding rates at 5.25%-5.5% in its latest meeting.

Gold prices were higher on Thursday.

Oil prices rebounded after falling in the previous session as U.S. crude and gasoline inventory declines supported the market after signs the U.S. Federal Reserve may keep rates higher for longer crimped the outlook for future fuel demand.

In corporate news, savings and investments firm M&G gained as it beat analysts' forecasts with its 2023 results, with net client flows, adjusted profits and operating capital generation all up materially on the previous year.

Adjusted operating profit before tax totalled £797m, up from £625m in 2022, which the firm put down to a resilient performance in Asset Management, and improved contributions from Life, Wealth and Corporate Centre.

This was well ahead of the consensus forecast of £750m, according to UBS.

Markets

At 08:15

FTSE 100 7,834 +1.26%

FTSE 250 19,684 +1.03%

DAX 18,151 +0.75%

At the close

Dow Jones 39,512 +1.03%

S&P 500 5,224 +0.89%

NASDAQ 16,369 +1.25%

Fixed Income

UK 10-YR YIELD 4.092

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.171

Commodities

Gold $2,201 +0.75%

Brent $86.37 +0.81%

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.