Monday,23 January 2023 17:07:13

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Monday,23 January 2023 at 17:08

A pubs and hotels business has warned that full-year earnings will be below market expectations because of the train strikes.

Fuller, Smith & Turner said the industrial action led to a 5 per cent fall in sales in the four-week Christmas and New Year period compared to the festive season in 2019.

The company estimated that industrial action had reduced sales by some £4 million since the start of October.

UK and European markets closed higher after starting the new trading week on an uncertain note with investors reassessing the economic outlook.

U.S. stocks gained as investors braced for a jam-packed week of corporate earnings and contemplated the Federal Reserve's next rate move ahead of the central bank's meeting later this month.

Oil prices rose by 1% to $88.50 a barrel, extending last week’s gains on the back of a stronger outlook thanks to an expected economic recovery in top oil importer China this year.

Gold prices fell as investors positioned for U.S. economic data this week that could influence the Federal Reserve’s future policy.

Markets

At the close

FTSE 100 7,784 +0.18%

FTSE 250 19,801 +0.50%

DAX 15,102 +0.46%

At 17:00

Dow Jones 33,701 +0.98%

S&P 500 4,027 +1.38%

NASDAQ 11,367 +2.03%

Fixed Income

UK 10-YR YIELD 3.360

Exchange Rates

GBP/USD 1.237

GBP/EUR 1.138

Commodities

Gold $1,922 (-0.16%)

Brent $88.61 +1.18%

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.