Friday,11 November 2022 08:55:05

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Friday,11 November 2022 at 08:56

U.K. and European stocks advanced as global markets remained buoyant after softer-than-expected U.S. consumer price index readings signalled that inflation may have peaked.

Hong Kong stocks jumped more than 7% as Chinese state media reported Covid measures for travel will be eased.

Oil prices rose as fears of a U.S. recession eased but were on track for weekly declines of more than 4% after a jump in COVID-19 cases in top oil importer, China.

Gold prices eased as U.S. data pointing to slowing inflation boosted hopes that the Federal Reserve would slow its aggressive rate hikes.

In corporate news, GSK fell after it said the second-line application of one of its cancer treatments will be limited following a request by the US regulators.

The first-line application of Zejula - a maintenance treatment for ovarian, fallopian tube and peritoneal cancer for patients who have had a response to platinum-based chemotherapy - remains unchanged, however.

Markets

At 08:30

FTSE 100 7,398 +0.32%

FTSE 250 19,641 +1.34%

DAX 14,197 +0.35%

At the close

Dow Jones 33,715 +3.70%

S&P 500 3,956 +5.54%

NASDAQ 11,114 +7.35%

Fixed Income

UK 10-YR YIELD 3.341

Exchange Rates

GBP/USD 1.175

GBP/EUR 1.145

Commodities

Gold $1,764 +0.61%

Brent $96.22 +3.11%

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.