Wednesday,02 October 2024 08:17:31

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Wednesday,02 October 2024 at 07:14

UK & European stocks opened up, with oil prices on the rise as tensions in the Middle East escalated further.

Hong Kong’s Hang Seng index was up over 5%, hitting a 22-month high for a sixth day of gains amid further optimism about Beijing’s latest stimulus policies.

Oil prices rose on fears conflict in the Middle East could turn into a wider war and disrupt oil supply from the key producing region after Iran fired ballistic missiles at Israel.

Gold prices were flat, as a firmer dollar partially offset safe-heaven demand amid heightened Middle East tensions, while investors awaited U.S. data for further economic cues.

In corporate news, JD Sports Fashion held annual guidance after delivering a 2% rise in half-year profit despite what it called a "volatile market".

The company reported profit before tax and adjusting items of £405.6m for the six months to 3August, compared with £398m a year earlier. Revenue jumped 5.2% to £5bn.

Markets

08:15

FTSE 100 8,305 +0.35%

FTSE 250 20,908 (-0.03%)

DAX 19,218 +0.03%

the close

Dow Jones 42,156 (-0.41%)

S&P 500 5,708 (-0.93%)

NASDAQ 5,708 (-0.93%)

Fixed Income

UK 10-YR YIELD 3.991

Exchange Rates

GBP/USD 1.329

GBP/EUR 1.201

Commodities

Gold $2,652 (-0.38%)

Brent $75.02 +0.79%

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.