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Thursday,19 January 2023 at 08:47

UK & European markets retreated, tracking weaker global sentiment as investors gauge the economic outlook, a topic high on the agenda at the World Economic Forum in Davos this week.

Shares in the Asia-Pacific traded mixed after tracking losses on Wall Street overnight.

Gold prices inched higher as investors weighed the chances of the U.S. Federal Reserve slowing its pace of interest rate hikes, while a firmer dollar capped bullion’s gains.

Oil prices fell after industry data showed a large unexpected increase in U.S. crude stocks for a second week, heightening concerns of a drop in fuel demand.

In corporate news, homewares retailer Dunelm said it expected annual profits to be above expectations as consumers sought value for money amid the cost-of-living crisis.

The company said second-quarter sales were up 18% year on year, with customers flocking to buy items such as heated indoor airers to mitigate soaring energy costs. 

Markets
At 08:20
FTSE 100 7,790 (-0.51%)
FTSE 250 19,776 (-0.58%)
DAX 15,122 (-0.39%)
At the close
Dow Jones 33,296 (-1.81%)
S&P 500 3,928 (-1.56%)
NASDAQ 10,957 (-1.24%)
Fixed Income
UK 10-YR YIELD 3.264
Exchange Rates
GBP/USD 1.234
GBP/EUR 1.140
Commodities
Gold $1,912 +0.49%
Brent $84.05 (-0.58%)
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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