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Friday,12 April 2024 at 07:53
UK
and European markets opened higher as investors parse through UK economic data and reflect on a
somewhat murky US inflation outlook.
Asia-Pacific markets were
mixed after an inflation-fuelled selloff in the previous
session, with investor assessing economic data from Singapore and South Korea
while awaiting China trade numbers.
Gold prices climbed as
geopolitical tensions bolstered demand for the safe-haven metal.
Oil prices rose in early
trade on heightened tensions in the Middle East, where
Iran has promised to retaliate for a suspected Israeli air strike on its
embassy in Syria, which could risk disruptions to supply from the oil producing
region.
In corporate news, Petrofac updated
the market on its ongoing negotiations concerning its finances, reporting that
it was still in discussions with lenders to restructure debt, considering
exchanging a significant portion for equity.
It said talks were underway with potential investors and major shareholders for
further investment, while negotiations regarding the sale of non-core assets
also persisted.
The company said it was focussed on meeting payment obligations, supporting
recent contract awards, and ensuring Petrofac's capital structure aligned with
its substantial backlog of $8bn.
Markets
At 08:30
FTSE 100 7,984 +0.75%
FTSE 250 19,933 +0.74%
DAX 18,140 +1.04%
At the close
Dow Jones 38,459 (-0.01%)
S&P 500 5,199 +0.74%
NASDAQ 16,442 +1.64%
Fixed Income
UK 10-YR YIELD 4.162
Exchange Rates
GBP/USD 1.251
GBP/EUR 1.171
Commodities
Gold $2,396 +0.99%
Brent $90.38 +0.68%
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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