Wednesday,10 April 2024 08:37:42

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Wednesday,10 April 2024 at 07:35

UK and European stocks opened higher as global markets look ahead to the release of U.S. inflation data for March.

Asia-Pacific markets mostly fell as of Japan’s corporate inflation climbed in March and rate decisions are assessed from New Zealand and Thailand’s central banks.

Gold priced slightly higher.

Oil prices held steady in early trade after two straight days of losses, as worries about tighter supply due to uncertainty over Gaza ceasefire talks were offset by a bigger-than-expected build in U.S. crude inventories.

In corporate news, Tesco gained as it struck a confident tone for the current financial year after reporting a jump in both annual profits and volumes.

On a statutory basis, pre-tax profits surged 159.5% to £2.76bn, with group sales excluding VAT and fuel up 7.2% in the 52 weeks to 24 February to £61.48bn.

Looking ahead, the grocer said it expected retail adjusted operating profit of "at least" £2.8bn for the 2024/25 year. It also forecast retail free cash flow of between £1.4bn and £1.8bn.

Markets

At 08:30

FTSE 100 7,979 +0.56%

FTSE 250 19,868 +0.53%

DAX 18,195 +0.65%

At the close

Dow Jones 38,883 (-0.02%)

S&P 500 5,209 +0.14%

NASDAQ 16,306 +0.32%

Fixed Income

UK 10-YR YIELD 4.039

Exchange Rates

GBP/USD 1.268

GBP/EUR 1.168

Commodities

Gold $2,357 +0.20%

Brent $89.85 +0.78%

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.