Friday,22 December 2023 08:19:49

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Friday,22 December 2023 at 08:20

UK & European stocks fell at the open as UK GDP data for the third quarter was revised down.

Asia-Pacific markets were mixed, with the Bank of Japan’s October meeting minutes showing board members debated on how to communicate the shift in their yield control stance.

Oil prices rose in early trade as tensions persisted in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to leave OPEC raised questions over the group’s effectiveness in supporting prices.

Gold prices climbed to their highest level in nearly three weeks as rising bets on Federal Reserve interest rate cuts early next year pushed the dollar and bond yields lower ahead of much awaited U.S. inflation data.

In corporate news, the Canadian government has approved the $13.5bn takeover of HSBC Canada by RBC, allowing the sale to proceed despite calls for it to be blocked over fears of reduced competition in the sector.

Finance Minister Chrystia Freeland gave the deal the green light, the final stage in the process after Canada's Competition Bureau approved it in September.

Markets

08:15

FTSE 100 7,683 (-0.15%)

FTSE 250 19,539 (-0.16%)

DAX 16,674 (-0.08%)

the close

Dow Jones 37,404 +0.87%

S&P 500 4,746 +1.03%

NASDAQ 14,963 1.23%

Fixed Income

UK 10-YR YIELD 3.527

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.152

Commodities

Gold $2,050 +0.22%

Brent $80.18 +1.07%

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.