Friday,22 March 2024 08:33:20

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Friday,22 March 2024 at 08:31

UK and European markets opened mixed after European stocks soared to an all-time high in the previous session.

Japan’s Nikkei 225 briefly crossed 41,000 to hit a fresh all-time high as the country’s inflation accelerated in February, while other Asia-Pacific markets declined.

Gold prices slipped due to a stronger dollar, but were set for a fourth weekly rise in five as the U.S Federal Reserve retaining its interest rate cut projections for 2024 bolstered bullion’s appeal.

Oil prices slipped on the possibility of a nearing Gaza ceasefire that could ease geopolitical concerns in the Middle East, while a stronger dollar and faltering U.S. gasoline demand also weighed on prices.

In corporate news, pub chain Wetherspoons said trading continued to improve from the impact of the Covid pandemic, with like-for-like sales up 5.8% in the seven weeks to March 17 after a sharp jump in first-half pre-tax profit.

Earnings for the 26 weeks to January 28 rose to £36m from £4.6m a year earlier.

Revenue surged 8% to £991m.

Markets

At 08:15

FTSE 100 7,905 +0.30%

FTSE 250 19,739 (-0.01%)

DAX 18,159 (-0.10%)

At the close

Dow Jones 39,781 +0.68%

S&P 500 5,241 +0.32%

NASDAQ 16,401 +0.20%

Fixed Income

UK 10-YR YIELD 4.071

Exchange Rates

GBP/USD 1.258

GBP/EUR 1.163

Commodities

Gold $2,166 (-0.67%)

Brent $85.48 +0.39%

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.