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Friday,15 September 2023 at 07:21

UK & European stocks rose at the open after the release of encouraging Chinese data.

Asia-Pacific markets climbed, bolstered by a slew of China’s economic data for August that were mostly better than market expectations.

Oil prices rose to their highest level in 10 months, after China cut banks’ cash reserve requirements to boost its economic recovery, and on expectations that major global interest rate hike cycles were nearing their end.

Gold prices gained as the dollar eased against the yuan after promising China economic data boosted recovery hopes in the world’s top bullion consumer, although the possibility of further U.S. interest rate hikes kept investors on edge.

In corporate news,  Games Workshop said trading for the quarter to August 27 was ahead of expectations driven by healthy growth across all channels.

In a brief trading update ahead of its annual shareholders meeting next week, the maker of Warhammer said core revenue had risen to £121m for the quarter, ahead of the £106m posted last year with licensing revenue doubling to £6m. Pre-tax profit was estimated at around £57m, up from £39m. 

FTSE 100 7,734 +0.80%
FTSE 250 18,962 +0.33%
DAX 15,957 +0.94%
the close
Dow Jones 34,907 +0.96%
S&P 500 4,505 +0.84%
NASDAQ 13,926 +0.81%
Fixed Income
UK 10-YR YIELD 4.321
Exchange Rates
GBP/USD 1.243
GBP/EUR 1.165
Gold $1,916 +0.40%
Brent $94.15 +0.05%
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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