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Friday,20 January 2023 at 16:58

UK and European markets nudged higher with the outlook for monetary policy still firmly in focus.

The dollar soared after the Bank of Japan governor repeated that the central bank will maintain its ultra-loose monetary policy amid speculation an imminent shift is coming.

Oil rose, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy.

Gold prices moved lower but were on track for a fifth consecutive weekly gain amid anticipation of slower rate hikes from the U.S. Federal Reserve and fears of a possible recession.

In equity markets, power generator SSE rose after it upgraded annual earnings expectations as higher gas prices and better storage offset lower-than-expected renewables output.

Close Brothers slid after the merchant bank said it will be setting aside a further £90m against bad loans from Novitas and that the performance of Winterflood Securities continues to be hit by the slowdown in trading activity in higher-margin sectors.

Markets
At the close
FTSE 100 7,750 +0.30%
FTSE 250 19,702 +0.66%
DAX 15,033 +0.76%
At 16:50
Dow Jones 33,208 +0.49%
S&P 500 3,936 +0.96%
NASDAQ 11,017 +1.52%
Fixed Income
UK 10-YR YIELD 3.369
Exchange Rates
GBP/USD 1.237
GBP/EUR 1.141
Commodities
Gold $1,925 (-0.29%)
Brent $86.80 +0.57%
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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