Wednesday,16 November 2022 17:10:55

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Wednesday,16 November 2022 at 17:14

Strong full-year results from Sage Group sent the software giant to the top of London’s leading share index.

Shares in the FTSE 100 company, which provides accounting, human resources and payroll software to almost half of Britain’s small businesses, climbed to a ten-month high, rising 6 per cent to 801p.

It said its margins would continue to improve this year after reporting an 8 per cent rise in organic operating profit to £383 million.

UK and European markets closed lower as political instability gripped the region after a missile hit Polish territory, raising tensions between Russia and NATO.

U.S. stocks fell as Wall Street weighed an earnings warning from retail bellwether Target against government retail sales data that showed robust consumer spending ahead of the key holiday season.

Oil prices fell as rising Covid-19 cases in China renewed fears of lower fuel consumption from the world’s top crude importer.

Gold priced lower.

Markets

At the close

FTSE 100 7,351 (-0.25%)

FTSE 250 19,112 (-1.77%)

DAX 14,234 (-1.00%)

At 16:45

Dow Jones 33,616 +0.08%

S&P 500 3,970 (-0.54%)

NASDAQ 11,216 (-1.25%)

Fixed Income

UK 10-YR YIELD 3.147

Exchange Rates

GBP/USD 1.188

GBP/EUR 1.143

Commodities

Gold $1,773 (-0.24%)

Brent $91.86 (-2.01%)

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.