Monday,22 April 2024 16:56:25

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Monday,22 April 2024 at 15:54

UK and European markets started the new trading week on a positive note, following more uncertain sentiment last week amid continuing Middle East tensions and a repricing of interest rate expectations.

US stocks attempted to rebound from their worst week of the year as investors braced for a flood of corporate earnings.

Oil prices initially fell, dragged down by a renewed focus on market fundamentals, as Israel and Iran played down the risks of an escalation of hostilities in the Middle East after Israel’s apparently small strike on Iran.

Gold prices dropped more than 2% to a one-week low as worries over a wider Middle East conflict subsided, prompting investors to scale back safe-haven trades in favour of riskier assets like equities.

In corporate news, Marks & Spencer was among the biggest risers after RBC said the stock is its top pick in the sector "given it should be able to deliver moderate growth driven by structural improvements in food and womenswear".

Markets

At the close

FTSE 100 8,023 +1.62%

FTSE 250 19,599 +1.07%

DAX 17,851 +0.64%

At 16:55

Dow Jones 38,023 +0.10%

S&P 500 4,980 +0.27%

NASDAQ 15,323 +0.27%

Fixed Income

UK 10-YR YIELD 4.208

Exchange Rates

GBP/USD 1.233

GBP/EUR 1.158

Commodities

Gold $2,335 (-2.31%)

Brent $87.00 +0.45%

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.