Tuesday,07 January 2025 08:22:50

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Tuesday,07 January 2025 at 08:18

UK & European stocks were down at the open, as investors mulled the latest house price figures from Halifax and focus on the latest euro zone inflation data.

Asia-Pacific markets rose, following an overnight rally in technology shares on Wall Street that saw the S&P500 and Nasdaq Composite post back-to-back gains.

Gold prices nudged higher, as market participants awaited further U.S. economic data to gauge the Federal Reserve’s interest rate trajectory for the year.

Oil prices extended losses into a second straight session on technical correction after last week’s rally, while forecasts for ample supply and a firm dollar also weighed.

In corporate news, UK clothing retailer Next lifted full-year guidance after better-than-expected December sales but warned it would have to lift prices to offset weaker UK growth as employer tax increases, and their impact on prices and employment, begin to filter through.

The company said like-for-like prices would rise by 1% in response to the £73m in extra wage and national insurance measures introduced in the last UK Budget.

It said around £13m of the £67m in extra wage costs could be offset through raising prices.

Markets

08:20

FTSE 100 8,198 (-0.62%)

FTSE 250 20,490 (-0.59%)

DAX 20,199 (-0.08%)

the close

Dow Jones 42,706 (-0.06%)

S&P 500 5,975 +0.55%

NASDAQ 19,864 +1.24%

Fixed Income

UK 10-YR YIELD 4.607

Exchange Rates

GBP/USD 1.255

GBP/EUR 1.204

Commodities

Gold $2,642 +0.24%

Brent $75.95 (-0.07%)

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.