Wednesday,20 December 2023 08:42:06

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Wednesday,20 December 2023 at 08:42

UK & European markets opened higher building on positive momentum seen in the previous session.

Asia markets rose with Japan stocks extending gains to another session after the country’s central bank left its ultra-loose monetary policy unchanged at its final meeting this year.

Gold prices held steady above the key $2,000 level, supported by prospects of interest rate cuts from the Federal Reserve next year, while investors awaited U.S. inflation numbers later this week.

Oil prices ticked higher after rising more than 1% in the previous session on jitters over global trade disruption and geopolitical tensions in the Middle East following Houthi attacks on ships in the Red Sea.

In corporate news, Chile-based copper miner Antofagasta said it was going ahead with the $4.4bn construction of a second concentrator at its Centinela operation to boost production.

The concentrator is expected to produce an additional 170,000 tonnes of copper equivalent tonnes a year, comprising of 144,000 tonnes of copper production, 130,000 ounces of gold and 3,500 tonnes of molybdenum, with a 36-year mine life.

Construction is expected to commence after definitive project finance documents have been executed during the first quarter of 2024.

Markets

At 08:15

FTSE 100 7,732 +1.24%

FTSE 250 19,522 +1.07%

DAX 16,778 +0.21%

At the close

Dow Jones 37,557 +0.68%

S&P 500 4,768 +0.59%

NASDAQ 15,003 +0.66%

Fixed Income

UK 10-YR YIELD 3.520

Exchange Rates

GBP/USD 1.266

GBP/EUR 1.154

Commodities

Gold $2,040 +0.05%

Brent $79.78 +0.71%

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.