Tuesday,19 December 2023 08:45:53

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Tuesday,19 December 2023 at 08:45

UK & European markets opened higher, rebounding slightly from lacklustre trade in the previous trading session.

Japan’s Nikkei 225 index closed more than 1% higher after the country’s central bank left the main policy rate unchanged at its final meeting of the year.

Gold prices were stuck in a narrow trading range as investors awaited more U.S. economic data this week that could shed light on the Federal Reserve’s monetary policy outlook.

Oil prices advanced, extending gains from the previous session, as attacks by Yemen’s Iran-aligned Houthi militants on ships in the Red Sea disrupted maritime trade and forced companies to reroute vessels.

In corporate news, music rights investor Hipgnosis Songs Fund said it has delayed publication of its interim results - which were due on Tuesday - after the board expressed concerns about the value of the company's assets.

Hipgnosis said an independent valuation was "materially higher than the valuation implied by proposed and recent transactions in the sector".

It highlighted the proposed sale of assets to Hipgnosis Songs Capital for $417.5m, reflecting a discount of 24.3% to the valuation at the end of March, and the recent sale of non-core assets of $23.1m at a 14.2% discount.

Markets

At 08:15

FTSE 100 7,635 +0.28%

FTSE 250 19,315 +0.49%

DAX 16,695 +0.24%

At the close

Dow Jones 37,306 +0.00%

S&P 500 4,740 (-0.45%)

NASDAQ 14,904 +0.61%

Fixed Income

UK 10-YR YIELD 3.658

Exchange Rates

GBP/USD 1.267

GBP/EUR 1.158

Commodities

Gold $2,027 +0.04%

Brent $77.91 (-0.10%)

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.