Tuesday,02 January 2024 09:41:00

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Tuesday,02 January 2024 at 09:40

UK & European markets opened higher to kick off the first trading day of the new year.

Asia-Pacific markets were mixed as China stocks fell while Australia shares came within striking distance of their all-time closing high.

Gold prices rose, supported by the prospect of interest rate cuts in 2024 from the Federal Reserve.

Oil prices jumped 1%, starting the New Year higher as a Red Sea naval clash focused attention on potential Middle East supply disruptions and expectations of Chinese economic stimulus boosted the demand outlook in the world’s top crude importer.

In corporate news, infrastructure specialist Balfour Beatty has appointed its brokers to oversee the initial phase of its 2024 share buyback programme of up to £50m by 30 June.

The complete scope of the buyback would be disclosed with its full-year results in March. It said the maximum number of shares to be acquired would be 63,162,140.

Markets

At 09:15

FTSE 100 7,736 +0.05%

FTSE 250 19,660 (-0.15%)

DAX 16,963 +1.26%

At the close

Dow Jones 37,689 (-0.05%)

S&P 500 4,769 (-0.28%)

NASDAQ 15,011 (-0.56%)

Fixed Income

UK 10-YR YIELD 3.643

Exchange Rates

GBP/USD 1.274

GBP/EUR 1.155

Commodities

Gold $2,074 +0.58%

Brent $77.64 +2.09%

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.