Wednesday,08 January 2025 08:21:47

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Wednesday,08 January 2025 at 08:17

UK & European stocks were set for a muted open following a downbeat session in the US.

Asian markets were mostly lower after shares slumped on Wall Street despite better-than-expected reports on the U.S. jobs market and business activity.

Gold prices edged lower, pressured by higher U.S. Treasury yields and a stronger dollar after data suggested the Federal Reserve might slow the pace of rate cuts this year.

Oil prices rose as supplies from Russia and OPEC members tightened while data showing an unexpected increase in U.S. job openings pointed to expanding economic activity and consequent growth in oil demand.

In corporate news, oil major Shell announced that results for the fourth quarter were significantly lower than the preceding three months, as it revealed $700m of well-write offs and a $1.3bn hit to cashflow.

The company also cut its liquefied natural gas production guidance for the three months to 30 December to 6.8-7.2m metric tons, from earlier estimates of 6.9-7.5m tons.

Markets

08:15

FTSE 100 8,245 +0.00%

FTSE 250 20,347 (-0.02%)

DAX 20,327 (-0.06%)

the close

Dow Jones 42,528 (-0.42%)

S&P 500 5,909 (-1.11%)

NASDAQ 19,489 (-1.89%)

Fixed Income

UK 10-YR YIELD 4.669

Exchange Rates

GBP/USD 1.245

GBP/EUR 1.205

Commodities

Gold $2,651 +0.10%

Brent $77.34 +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.