Thursday,09 January 2025 16:59:20

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Thursday,09 January 2025 at 16:54

UK & European stocks turned higher as global markets focused on the inflation outlook.

The U.S. dollar charged ahead on Thursday underpinned by rising Treasury yields, putting the yen, sterling and euro under pressure near multi-month lows amid the shifting threat of tariffs.

Oil prices rose slightly as investors factored in firm winter fuel demand expectations despite large U.S. fuel inventories and macroeconomic concerns.

Gold prices rose to a near four-week high, supported by safe-haven demand, while investors weighed how U.S. President-elect Donald Trump's policies would impact the economy and inflation.

IN corporate news, bakery chain Greggs said that it jumped past the £2bn sales mark in 2024, but reported a slowdown in like-for-like sales growth for the fourth quarter as weaker consumer confidence dented footfall on the high street.

For the year, total sales rose 11.3% to £2.01bn, with company managed shop LFL sales up 5.5%.

In the fourth quarter, total sales were up 7.7% while company managed shop LFL sales growth slowed to 2.5%. Greggs said this reflected "the more subdued high street footfall".

"Trading performance reflected a well-publicised more challenging market backdrop in the second half of 2024," it said.

Markets

the close

FTSE 100 8,319 +0.83%

FTSE 250 20,005 +0.27%

DAX 20,319 (-0.05%)

16:55

Dow Jones 42,635 +0.25%

S&P 500 5,918 +0.16%

NASDAQ 19,478 (-0.06%)

Fixed Income

UK 10-YR YIELD 4.809

Exchange Rates

GBP/USD 1.229

GBP/EUR 1.194

Commodities

Gold $2,667 +0.25%

Brent $76.72 +1.34%

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.