Friday,26 May 2023 08:36:59

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Friday,26 May 2023 at 07:38

UK and European stock markets opened higher as talks to raise the U.S. debt ceiling reached their crucial final week.

Asia-Pacific markets were mixed after Wall Street saw a tech rally led by Nvidia, and U.S. negotiators moved closer to a debt ceiling deal with just a week to go before the government faces a potential default.

Gold rose as the dollar pulled back from a two-month high.

Oil prices softened in early trade, weighed on by conflicting messages from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting and a stronger dollar.

In corporate news, AstraZeneca said results from a Phase III trial showed its Imfinzi treatment in combination with chemotherapy showed a significant improvement in patients with endometrial cancer.

The pharmaceutical company said the drug, followed by either Imfinzi plus its Lynparza drug or Imfinzi alone as maintenance therapy showed a "statistically significant and clinically meaningful" improvement in progression-free survival compared to chemotherapy alone in patients with newly diagnosed advanced or recurrent endometrial cancer.

Markets

At 08:30

FTSE 100 7,604 +0.44%

FTSE 250 18,852 +0.06%

DAX 15,846 +0.33%

At the close

Dow Jones 32,764 (-0.11%)

S&P 500 4,151 +0.88%

NASDAQ 12,698 +1.71%

Fixed Income

UK 10-YR YIELD 4.398

Exchange Rates

GBP/USD 1.235

GBP/EUR 1.149

Commodities

Gold $1,952 +0.58%

Brent $76.23 +0.17%

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.