Friday,14 June 2024 08:52:03

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Friday,14 June 2024 at 07:49

UK and European stocks opened higher, rounding off a choppy week that has delivered a host of new information for investors to process.

Asia-Pacific markets were mixed after the Bank of Japan kept its benchmark interest rate unchanged on Friday, but indicated it’s considering the reduction of its purchase of Japanese government bonds.

Oil prices fell but were on track for their first weekly gain in four weeks as markets assessed the impact of higher-for-longer U.S. interest rates versus solid outlooks for crude and fuel demand this year.

Gold prices edged up and were on course for their first weekly gain in four, as U.S. economic data indicated a softening of price pressures, fuelling optimism that a rate cut from the Federal Reserve might be forthcoming.

In corporate news, supermarket chain Tesco reported a 3.4% jump in group first-quarter sales, driven by strong volume growth across the UK, Republic of Ireland and Central Europe supported by easing inflation.

Retail sales on a like-for-like basis for the 13 weeks to May 25 came in at £15.3bn as the company said UK market share had increased 52 basis points to 27.6% against its main competitors.

Markets

At 08:30

FTSE 100 8,169 +0.07%

FTSE 250 20,214 +0.09%

DAX 18,222 (-0.24%)

At the close

Dow Jones 38,647 (-0.17%)

S&P 500 5,433 +0.23%

NASDAQ 17,667 +0.34%

Fixed Income

UK 10-YR YIELD 4.113

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.187

Commodities

Gold $2,312 +0.39%

Brent $82.44 +0.38%

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.