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Tuesday,22 November 2022 at 08:26

UK & European stocks rose at the open as investors appear to shrug off concerns among their U.S. and Asia-Pacific counterparts over China’s tightening of Covid restrictions, which are continuing to pressure output.

Shares in the Asia-Pacific were mixed as investors weigh risks and China saw a rise in Covid cases. The government reiterated its Covid-zero policy in a late afternoon press conference.

Oil prices rose slightly, a day after Saudi Arabia denied a media report that it was discussing an increase in oil supply with OPEC and its allies.

Gold prices edged up, after retreating as much as 1% in the last session, as the dollar eased, with the focus turning to minutes from the U.S. Federal Reserve’s latest meeting for clues on future rate hikes.

In corporate news, Severn Trent reported a "robust" first half, with group profit before tax and interest up 2.4% year-on-year to £261.7m, after a £103.6m rise in turnover to £1.06bn.

The water company hiked its property PBIT guidance by a further £50m, with planned PBIT from sales of surplus land now £150m between 2017 and 2032. 

Markets
8:15
FTSE 100 7,421 +0.60%
FTSE 250 19,368 (-0.23%)
DAX 14,348 (-0.22%)
the close
Dow Jones 33,700 (-0.13%)
S&P 500 3,949 (-0.39%)
NASDAQ 11,024 (-1.09%)
Fixed Income
UK 10-YR YIELD 3.186
Exchange Rates
GBP/USD 1.184
GBP/EUR 1.154
Commodities
Gold $1,744 +0.42%
Brent $88.45 +0.74%
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.

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