Monday,29 April 2024 08:43:58

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Monday,29 April 2024 at 07:41

UK & European markets opened positively as investors look ahead to more central bank decisions, earnings and data this week.

The Japanese yen strengthened by midday after hitting 160 against the U.S. dollar as stocks in Asia-Pacific markets largely climbed.

Oil prices fell in early Asian trading, reversing gains from Friday as U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon and boosted the dollar, which hurts oil demand.

Gold prices slipped as hopes for early interest rate cuts this year dampened, while focus shifted to the Federal Reserve policy meeting and U.S. non-farm payrolls data due this week for further clarity on monetary policy.

In corporate news, music rights owner Hipgnosis said it agreed terms on a new $1.57bn takeover by private equity investor Blackstone in the latest tit-for-tat battle with rival Concord.

Blackstone on Monday upped its offer to $1.30 a share in cash, or 104 pence a share, beating Concord’s latest offer of $1.24 a share.

Markets

At 08:30

FTSE 100 8,178 +0.47%

FTSE 250 19,813 (-0.05%)

DAX 18,212 +0.28%

At the close

Dow Jones 38,239 +0.40%

S&P 500 5,099 +1.02%

NASDAQ 15,927 +2.03%

Fixed Income

UK 10-YR YIELD 4.314

Exchange Rates

GBP/USD 1.252

GBP/EUR 1.168

Commodities

Gold $2,332 (-0.20%)

Brent $87.38 (-0.79%)

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.