Wednesday,20 November 2024 08:25:01

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Wednesday,20 November 2024 at 08:21

UK and European markets opened higher as markets keep an eye on a spike in tensions in the Ukraine-Russia war.

Asia-Pacific markets were mostly lower in choppy trading following a mixed performance on Wall Street amid mounting geopolitical tensions between Ukraine and Russia.

Oil prices rose as an industry report signalled a build in US crude inventories ahead of Government figures later on today.

Gold price slightly up for a third consecutive session to a one-week high, driven by a softer dollar and escalating Russia-Ukraine tensions that raised the demand for safe-haven assets.

In corporate news, Sage Group reported a 9% increase in full-year underlying total revenue to £2.33bn, driven by strong subscription-based recurring revenue growth.

The FTSE 100 firm said underlying operating profit rose 21% to £529m, supported by disciplined cost management, while free cash flow surged 30% to £524m, enabling a £400m share buyback and a 6% increase in the full-year dividend.

It noted an 11% rise in annualised recurring revenue, strong adoption of the Sage Business Cloud product, and advancements in AI-powered solutions like Sage Copilot, positioning it for continued growth.

Markets

At 8.22

FTSE 100 8,113 +0.18%

FTSE 250 20,470 +0.21%

DAX 19,179 +0.62%

At the close

Dow Jones 43,268 (-0.28%)

S&P 500 5,916 +0.40%

NASDAQ 18,987 +1.04%

Fixed Income

UK 10-YR YIELD 4.487

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.200

Commodities

Gold $2,621 (-0.39%)

Brent $73.33 +0.39%

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.