Thursday,05 December 2024 08:22:23

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Thursday,05 December 2024 at 08:20

UK and European stocks open flat with French markets in focus after Prime Minister Michel Barnier’s government was toppled in a vote of no confidence Wednesday.

Asia-Pacific markets traded mixed after Wall Street stock benchmarks notched record highs, shrugging off global political turmoil.

Investors are continuing to monitor the political situation in South Korea and France. Less than a day after he declared martial law, lawmakers in South Korea filed a motion to impeach President Yoon Suk Yeol.

Oil prices tentative ahead of an OPEC+ meeting later in the day, with investors waiting to see what the producer group would do next on supply cuts while also monitoring tension in the Middle East.

Gold prices were little changed as investors awaited U.S. payrolls data that is expected to provide more insights into the Federal Reserve’s monetary policy path.

In corporate news, AJ Bell reported a record full-year financial performance, with revenue rising 23% to £269.4m and profit before tax up 29% to £113.3m, driven by higher revenue margins and operational efficiency.

The FTSE 250 company recorded strong operational growth, adding 66,000 platform customers, increasing assets under administration by 22% to £86.5bn, and boosting assets under management by 45% to £6.8bn.

Its board proposed a 16% increase in its total dividend and announced a £30m share buyback programme.

The Competition and Markets Authority said it has cleared the proposed merger between Vodafone and Three on the proviso that the companies promise to invest billions to roll out a combined 5G network across the UK.

The competition regulator also said that the telecoms companies, which first announced their tie-up 18 months ago, should cap certain mobile tariffs and data plans for three years, protecting customers from short-term price rises.

Markets

At 8:20

FTSE 100 8,335 +0.00%

FTSE 250 21,012 +0.03%

DAX 20,247 +0.07%

At the close

Dow Jones 45,014 +0.69%

S&P 500 6,086 +0.61%

NASDAQ 19,735 +1.30%

Fixed Income

UK 10-YR YIELD 4.256

Exchange Rates

GBP/USD 1.273

GBP/EUR 1.208

Commodities

Gold $2,645 (-0.15%)

Brent $72.36 (-0.16%)

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.