Friday,22 November 2024 16:19:34

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Friday,22 November 2024 at 16:15

The UK's FTSE 100 was on course for its biggest weekly gain in more than six months on Friday, as a slide in sterling supported companies earning in dollars, while banks came under pressure from weak business activity data.

US stocks edged higher after a measure of US manufacturing activity came in ahead of estimates. The dollar rose, on course for an eighth straight week of gains, the currency’s longest run of the year.

Oil prices held steady on Friday, on track for a weekly rise of 5%, as the Ukraine war intensified and Chinese imports were set to increase in November.

Gold prices rose over 1% to hit a two-week peak on Friday, heading for the best weekly performance in more than a year, buoyed by safe-haven demand as Russia-Ukraine tensions intensified.

Consumer goods giant and Ben & Jerry’s parent Unilever said on Friday that it remains on track to deliver its €800m productivity programme and to separate its ice cream business by the end of next year.

JPMorgan Cazenove downgraded its stance on shares of JD Sports on Friday to ‘neutral’ from ‘overweight’ following results a day earlier.

Markets

16:15

FTSE 100 8,265 +1.42%

FTSE 250 20,590 +1.18%

DAX 19,306 +0.83%

16:15

Dow Jones 44,151 +0.64%

S&P 500 5,967 +0.33%

NASDAQ 18,998 0.14%

Fixed Income

UK 10-YR YIELD 4.395

Exchange Rates

GBP/USD 1.252

GBP/EUR 1.200

Commodities

Gold $2,705 +1.37%

Brent $74.650 +057%

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.