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Wednesday,05 June 2024 at 08:16

UK and European stocks opened higher with investors in the region looking ahead to the next meeting of the European Central Bank (ECB).

Asia-Pacific markets were mixed with stocks in India rising after a heavy sell-off in the previous session as investors assessed India’s election results.

Gold prices rose slightly, helped by lower Treasury yields, but were stuck in a tight range as investors waited for more U.S. data to gauge the Federal Reserve’s next step on monetary policy.

Oil prices extended losses from the previous session in early Asian trading on Wednesday after an industry report showed builds in U.S. crude and fuel stockpiles, adding to concerns around demand growth.

In corporate news, annual operating profits and sales at discount retailer B&M European Value Retail grew in the double digits, helped by the opening of 78 gross new stores across the group, with earnings at the top end of guidance.

Adjusted EBITDA totalled £629m in the year to 25 March, up 10.9% on the year before, helped by higher volumes and strong cost control. This was at the top end of the company's forecast of £620m to £630m. 

At 08:30
FTSE 100 8,257 +0.24%
FTSE 250 20,791 +0.35%
DAX 18,515+0.60%
At the close
Dow Jones 38,711 +0.24%
S&P 500 5,291 +0.15%
NASDAQ 16,857 +0.17%
Fixed Income
UK 10-YR YIELD 4.209
Exchange Rates
GBP/USD 1.277
GBP/EUR 1.174
Gold $2,333 +0.24%
Brent $77.68 +0.75%
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.

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