Friday,29 November 2024 08:20:29

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Friday,29 November 2024 at 08:17

London stocks flat at the open after disappointing retail sales figures, and as investors eyed the release of a slew of UK data points.

France’s brewing political crisis is spilling into financial markets with French borrowing costs hitting the same level as debt-ridden Greece’s for the first time on record Thursday.

Asia-Pacific markets mostly lost ground led by losses in South Korean stocks after its industrial production declined for a second straight month in October.

Investors also assessed November inflation numbers from Japan’s capital of Tokyo, which saw its headline inflation rate come in at 2.6%, a rebound from the 1.8% seen in October.

Oil prices were mixed following a potential renewal of supply risk as Israel and Hezbollah traded accusations of ceasefire violations, and as a delay to an OPEC+ meeting left investors awaiting a decision on its output policy.

Gold prices rose helped by a slight dip in the U.S. dollar and growing geopolitical tension, but remained on track for a weekly decline as markets awaited key U.S. data for further insights into the Federal Reserve’s monetary policy direction.

In corporate news, Canadian automotive parts maker ABC Technologies said it had reached a deal to buy TI Fluid Systems for £1.03bn.

ABC, backed by private equity fund Apollo, said it would pay 200p a share in cash after having previous offers rejected. TI Fluid shares closed 5.7% higher at 189.2p on Thursday.

AIM-listed investment banking group Peel Hunt said it swung to a first-half profit on the back of a big jump in revenues as the business capitalised on improving market conditions.

Group revenues were up 26% year-on-year at £53.8m in the six months to 30 September, helped by the company executing two IPOs, collecting material M&A fees and generating increased trading revenues.

Adjusted pre-tax profit was £4.6m, compared with a loss of £0.5m the year before.

Markets

At 8.18

FTSE 100 8,282 +0.01%

FTSE 250 20,793 +0.15%

DAX 19,405 (-0.12%)

At the close

Dow Jones 44,722 (-0.31%)

S&P 500 5,998 (-0.38%)

NASDAQ 19,060 (-0.59%)

Fixed Income

UK 10-YR YIELD 4.292

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.202

Commodities

Gold $2,658 +0.78%

Brent $72.39 (-0.32%)

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.