Monday,07 October 2024 08:20:00

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Monday,07 October 2024 at 07:16

UK & European stocks rose at the open following an upbeat session in Asia, as investors mulled the latest house price data from Halifax.

Asia-Pacific markets mostly climbed, led by Japan’s Nikkei 225 rising almost 2% as investors look ahead to a week of central bank decisions from around the region.

Oil prices pared gains in early trade after charting their biggest weekly rise in over a year on Friday amid mounting threats of a region-wide war in the Middle East.

Gold prices eased as bets firmed for a smaller U.S. rate cut in November after strong jobs data, while investors awaited inflation data and comments from Federal Reserve officials for further cues.

In corporate news, Rio Tinto confirmed speculation that it has approached Philadelphia-based lithium chemicals producer Arcadium Lithium regarding a possible takeover.

"The approach is non-binding and there is no certainty that any transaction will be agreed to or will proceed," Rio Tinto said. US-listed shares in Arcadium were up 10% on Friday, while its secondary shares in Australia soared 45% on Monday.

Markets

08:15

FTSE 100 8,286 +0.08%

FTSE 250 20,891 (-0.04%)

DAX 19,151 +0.16%

the close

Dow Jones 42,352 +0.81%

S&P 500 5,751 +0.90%

NASDAQ 18,137 +1.22%

Fixed Income

UK 10-YR YIELD 4.157

Exchange Rates

GBP/USD 1.311

GBP/EUR 1.195

Commodities

Gold $2,644 (-0.32%)

Brent $78.10 +0.19%

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.