Monday,23 January 2023 08:49:12

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Monday,23 January 2023 at 08:52

UK & European markets started the new trading week on a positive note with investors gauging the economic outlook.

Shares were higher in Asia, but most markets were closed for the Lunar New Year holiday, with markets in Shanghai shut for the whole week.

Oil prices drifted lower in early trade, thinned by the Lunar New Year holiday in east Asia, but held on to most of last week’s gains on the prospect of an economic recovery in top oil importer China this year.

Gold prices rose, as a softer dollar and prospects of slower interest rate hikes by the U.S. Federal Reserve boosted bullion’s appeal.

In corporate news, Infrastructure group Balfour Beatty said it had been awarded a £1.2bn contract by Britain’s National Highways to deliver a package of works for the proposed Lower Thames Crossing.

The company on Monday said it would be responsible for the design and delivery of more than 10 miles of new highway as part of the project to build a new tunnel under the River Thames aimed at easing traffic congestion in the south of England.

Markets

At 08:30

FTSE 100 7,777 +0.09%

FTSE 250 19,779 +0.40%

DAX 15,132 +0.66%

At the close

Dow Jones 33,375 +1.00%

S&P 500 3,972 +1.89%

NASDAQ 11,140 +0.43%

Fixed Income

UK 10-YR YIELD 3.337

Exchange Rates

GBP/USD 1.240

GBP/EUR 1.138

Commodities

Gold $1,921 (-0.18%)

Brent $87.24 (-0.46%)

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.