Friday,09 August 2024 08:22:34

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Friday,09 August 2024 at 07:19

UK & European stocks gained at the open following a positive session on Wall Street, as better-than-expected jobless claims eased concerns about the US economy.

Asian shares were trying to end a tough week on a bright note after Wall Street bounced and data showed China taking a step away from deflation, while Japanese stocks fought to sustain an early rally.

Gold prices were subdued and headed for a weekly decline, while investors awaited further cues to gauge the size of a potential U.S. interest rate cut in September.

Oil prices edged up in Asian trading, heading for a weekly gain of more than 3% as U.S. jobs data calmed demand concerns and fears of a widening Middle East conflict persisted.

In corporate news, CVC Private equity funds and Nordic Capital XI Delta GP have agreed a deal to purchase Hargreaves Lansdown for 1,140p per share in cash.

That amount will be comprised of 1,110p in cash per share of Hargreaves together with a 30p per share dividend for the year ending on 30 June.

The acquisition price values the firm's share capital at about £5.4bn, for a 54.1% premium to the share price on 11 April, the day before the initial buyout approach.

Markets

08:20

FTSE 100 8,167 +0.28%

FTSE 250 20,573 +0.32%

DAX 17,680 +0.00

the close

Dow Jones 39,446 +1.76%

S&P 500 5,319 +2.30%

NASDAQ 16,660 +2.87%

Fixed Income

UK 10-YR YIELD 3.961

Exchange Rates

GBP/USD 1.276

GBP/EUR 1.168

Commodities

Gold $2,422 (-0.16%)

Brent $78.96 +0.04%

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.