Wednesday,15 May 2024 08:38:44

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Wednesday,15 May 2024 at 07:36

UK & European markets opened higher as global investors look ahead to the latest U.S. inflation print.

Asia-Pacific markets were mostly higher, tracking Wall Street gains overnight that saw the Nasdaq Composite index hit a fresh record closing high despite strong inflation data.

Gold prices were slightly higher in early trade.

Oil prices climbed higher on signs of improved demand in China.

In corporate news, Burberry warned of a challenging first half after slowing demand hit annual sales and profits.

The luxury fashion brand said revenues in the year to 30 March fell 4% to £2.97bn. On a constant currency basis, revenues were flat, while like-for-like store sales fell 1%.

Burberry said a “robust” first half, where comparable store sales had sparked 10%, had been offset by a more challenging second half, when they fell 8%.

Markets

At 08:15

FTSE 100 8,469 +0.49%

FTSE 250 20,685 +0.33%

DAX 18,784 +0.37%

At the close

Dow Jones 39,558 +0.32%

S&P 500 5,246 +0.48%

NASDAQ 16,511 +0.75%

Fixed Income

UK 10-YR YIELD 4.128

Exchange Rates

GBP/USD 1.259

GBP/EUR 1.162

Commodities

Gold $2,361 +0.18%

Brent $82.86 +0.16%

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.