Thursday,04 January 2024 08:27:52

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Thursday,04 January 2024 at 08:28

UK & European stocks opened mixed after a negative close the previous day, as investors eyed a slew of UK data releases.

China led losses in Asia-Pacific, followed by Japan stocks which resumed trading after an extended New Year’s holiday during which the country witnessed an earthquake and an accident involving Japan Airlines.

Oil prices rose in early trade, extending the previous day’s sharp gains on concerns about Middle Eastern supply following disruptions at a field in Libya and heightened tension around the Israel-Gaza war.

Gold prices were little changed as higher U.S. dollar and bond yields kept a lid on bullion's upside while investors looked out for more jobs data to gauge the Federal Reserve's next steps on monetary policy.

UK fashion retailer Next lifted annual guidance after better-than-expected full-price sales during November and December.

Full-price sales in the nine weeks to December 30 rose 5.7% year-on-year, £38m better than previous guidance of a 2% rise.

Annual pre-tax profit guidance increased by £20m to £905m. Of the £20m increase, £17m came from the sales beat to date and £3m from an upgraded forecast for full-price sales in January. The group also forecast a 6% rise in sales and profit up 5% for 2024/25

Markets

08:30

FTSE 100 7,707 +0.33%

FTSE 250 19,364 +0.20%

DAX 16,595 +0.34%

the close

Dow Jones 37,430 (-0.76%)

S&P 500 4,704 (-0.80%)

NASDAQ 14,592 (-1.18%)

Fixed Income

UK 10-YR YIELD 3.644

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.159

Commodities

Gold $2,047 +0.28%

Brent $78.95 +0.78%

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.