Thursday,22 August 2024 08:28:37

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Thursday,22 August 2024 at 07:26

UK and European stocks opened marginally higher as investors look for indications from the Federal Reserve on the future path of interest rates.

The dollar traded near the lowest in more than a year against the euro and sterling as a dovish Federal Reserve and fresh signs of weakness in the U.S. job market backed the case for interest rate cuts.

A sharp sell-off in crude oil paused on weak economic data from the world’s two largest economies, the United States and China.

Gold futures settled lower, but concerns about the outlook for global economic growth helped keep the yellow metal's safe-haven appeal intact.

UK high-end supermarket chain Waitrose its ramping up its brand investment plans, injecting £1bn to open up to 100 convenience shops and upgrade a number of existing supermarkets over the next five years.

"The convenience store will trigger one of our biggest periods of expansion as we look to reach more customers having served a record 15 million last year," Waitrose said in a statement on Wednesday.

The company, which is part of the John Lewis Partnership group, also announced plans to open a new supermarket in Hampton Hill later this year – its first new store in six years.

Markets

AT 08:20

FTSE 100 8,293 +0.12%

FTSE 250 21,141 (-0.21%)

DAX 18,471 +0.12%

AT THE CLOSE

Dow Jones 40,890 +0.14%

S&P 500 5,620 +0.42%

NASDAQ 17,918 +0.57%

Fixed Income

UK 10-YR YIELD 3.906

Exchange Rates

GBP/USD 1.309

GBP/EUR 1.174

Commodities

Gold $2,504 (-0.29%)

Brent $76.01 (-0.01%)

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.