Friday,20 January 2023 08:16:53

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Friday,20 January 2023 at 08:23

UK & European markets climbed as traders look for a partial recovery from Thursday’s selloff, with the outlook for monetary policy still firmly in focus.

Asia-Pacific traded higher as investors digested Japan’s inflation data. The nationwide core consumer price index rose 4% in December on an annualized basis, the fastest pace since 1981.

Oil prices rose on optimism that the U.S. Federal Reserve will ends its tightening cycle, buoying the economy and boosting fuel demand.

Gold prices held steady but were on track for a fifth consecutive weekly gain, as a weaker dollar and hopes of slower U.S. interest rate hikes boosted the safe-haven bullion’s appeal.

In corporate news, power generator SSE upgraded annual earnings expectations as higher gas prices and better storage offset lower-than-expected renewables output.

The company lifted adjusted earnings per share to more than 150 pence from previous guidance of at least 120 pence.

Markets

08:20

FTSE 100 7,775 +0.37%

FTSE 250 19,589 +0.08%

DAX 14,985 +0.44%

the close

Dow Jones 33,044 (-0.76%)

S&P 500 3,898 (-0.76%)

NASDAQ 10,852 (-0.96%)

Fixed Income

UK 10-YR YIELD 3.293

Exchange Rates

GBP/USD 1.237

GBP/EUR 1.139

Commodities

Gold $1,935 +0.23%

Brent $87.02 +0.82%

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.