Wednesday,10 July 2024 08:45:45

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Wednesday,10 July 2024 at 07:42

UK & European stocks opened higher as concerns over the political outlook in France subside.

Asia-Pacific markets were mixed with Japan markets hitting new records after inflation data from the country met expectations.

Gold traded in a narrow price range as investors looked forward to a key U.S. inflation reading that could shed more light on the Federal Reserve’s interest rates trajectory.

Oil prices rebounded following three days of declines after an industry report showed U.S. crude and fuel stockpiles fell last week, indicating steady demand, and the outlook for interest rate cuts improved.

In corporate news, food outlet operator SSP Group held annual guidance after third-quarter sales rose 16%, driven by increasing demand for leisure travel. Like-for-like revenue was up 6%.

The company, which owns the Upper Crust and Ritazza coffee chains, said it still expects revenue of £3.4-£3.5bn, underlying EBITDA of £345-£375m and underlying operating profit in a range of £210-£235m.

Markets

At 08:15

FTSE 100 8,164 +0.30%

FTSE 250 20,703 +0.28%

DAX 18,273 +0.19%

At the close

Dow Jones 39,291 (-0.13%)

S&P 500 5,576 +0.07%

NASDAQ 18,429 +0.14%

Fixed Income

UK 10-YR YIELD 4.116

Exchange Rates

GBP/USD 1.279

GBP/EUR 1.182

Commodities

Gold $2,374 +0.46%

Brent $84.12 (-0.97%)

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.