Thursday,07 November 2024 08:23:21

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Thursday,07 November 2024 at 08:20

UK & European markets opened slightly higher as investors continued to digest Donald Trump’s presidential election win and political upheaval in Germany.

Asia-Pacific equity markets traded higher, buoyed by a record rise for U.S. shares overnight, as investors mulled the implications of a Donald Trump presidency, while also eyeing policy decisions from the U.S. Federal Reserve and other major central banks later in the day.

Oil prices edged up following a sell-off triggered by the U.S. presidential election, as risks to oil supply from a Trump presidency and a hurricane building in the Gulf Coast outweighed a stronger U.S. dollar and higher inventories.

Gold prices touched a more than three-week low as the dollar strengthened after Donald Trump’s win in the U.S. presidential election, while focus was also on the Federal Reserve’s interest rate decision later in the day.

In corporate news, UK supermarket chain Sainsbury’s reported increasing momentum in its second quarter as it reiterated guidance for strong underlying profit growth this financial year, helped by improving grocery volumes and a stronger performance from Argos in the second half.

The group reported total retail sales growth of 3.1% when excluding fuel for the 28 weeks to 14 September, with growth accelerating from 2.3% in the first quarter to 4.1% in the second.

Markets

At 8.20

FTSE 100 8,178 +0.14%

FTSE 250 20,520 +0.36%

DAX 19,164 +0.66%

At the close

Dow Jones 43,729 +3.57%

S&P 500 5,929 +2.53%

NASDAQ 18,983 +2.95%

Fixed Income

UK 10-YR YIELD 4.562

Exchange Rates

GBP/USD 1.293

GBP/EUR 1.201

Commodities

Gold $2,665 +0.26%

Brent $74.93 (-0.10%)

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.