Friday,15 September 2023 16:55:10

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Friday,15 September 2023 at 15:59

UK and European markets closed slightly higher as traders reacted to the European Central Bank’s suggestion that its latest hike may be its last.

The U.S. dollar was just below a six-month high, having strengthened overnight following U.S. economic data, while the yen fell to 10-month lows.

Oil was on track for a third weekly gain as supply tightness spearheaded by Saudi Arabian production cuts combines with optimism that the Chinese economy is finally turning a corner.

Gold recovered from three-week lows traders focussed on the Federal Reserve’s guidance on interest rates next week.

Shares in Games Workshop Group surged on Friday after the Warhammer maker 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 company 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.

Markets

At the close

FTSE 100 7,711 +0.50%

FTSE 250 18,789 (-0.58%)

DAX 15,895 +0.57%

At 16.47

Dow Jones 34,737 (-0.49%)

S&P 500 4,465 (-0.88%)

NASDAQ 15,236 (-1.53%)

Fixed Income

UK 10-YR YIELD 4.360

Exchange Rates

GBP/USD 1.239

GBP/EUR 1.161

Commodities

Gold $1,927 +0.98%

Brent $93.72 (-0.40%)

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.