Thursday,11 January 2024 08:46:09

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Thursday,11 January 2024 at 08:47

UK & European stocks opened higher following gains on Wall Street and in Asia, as investors eyed the release of the latest US inflation reading.

Japan led the advance in Asia markets, extending its record-breaking rally ahead of U.S. inflation data for December, while South Korea stocks clung on to gains after the Bank of Korea held interest rates.

Gold eked out gains as the U.S. dollar extended its retreat ahead of a U.S. inflation report later in the day that could offer more clarity on the Federal Reserve’s monetary policy outlook this year.

Oil prices ticked higher in Asian trading as markets measured rising tensions in the Middle East against a surprise build in U.S. crude stockpiles that pushed oil benchmarks down about 80 cents in the previous session.

In corporate news, supermarket giant Tesco delivered an impressive set of third-quarter results with sales growth picking up sharply during the key Christmas trading period, as it upped its profit guidance for the full year.

The country's biggest grocer said like-for-like sales increased by 6.6% across the group in the three months to 25 November, with UK LFL sales up 7.9%.

Markets

08:40

FTSE 100 7,690 +0.51%

FTSE 250 19,359 +0.41%

DAX 16,796 +0.64%

the close

Dow Jones 37,695 +0.45%

S&P 500 4,783 +0.57%

NASDAQ 14,969 +0.75%

Fixed Income

UK 10-YR YIELD 3.795

Exchange Rates

GBP/USD 1.276

GBP/EUR 1.62

Commodities

Gold $2,032 +0.34%

Brent $76.88 +0.34%

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.