Thursday,28 December 2023 08:56:40

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Thursday,28 December 2023 at 08:56

UK & European stocks nudged higher as global markets search for new record highs to close out the year.

China and Hong Kong markets led a rally in Asia stocks while Australia shares closed near two-year highs.

Gold prices were flat.

Oil prices rose in early Asian trade as persistent fears over escalating tensions in the Middle East outweighed easing concerns about transport disruptions as some global shipping firms said they were returning to the Red Sea route.

In corporate news, Zanaga Iron Ore announced it had signed a memorandum of understanding with China Machinery Engineering Corporation (CMEC) for hydroelectric power solutions at the Zanaga Iron Ore Project.

The firm said the agreement aimed to advance engineering studies for hydroelectric sites near the project and establish funding arrangements between the Republic of the Congo's government and third parties.

Markets

At 08:15

FTSE 100 7,733 +0.11%

FTSE 250 19,734 +0.07%

DAX 16,769 +0.16%

At the close

Dow Jones 37,656 +0.30%

S&P 500 4,781 +0.14%

NASDAQ 15,099 +0.16%

Fixed Income

UK 10-YR YIELD 3.469

Exchange Rates

GBP/USD 1.280

GBP/EUR 1.151

Commodities

Gold $2,077 +0.00%

Brent $79.20 (-0.08%)

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.