Friday,10 January 2025 16:33:37

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Friday,10 January 2025 at 16:28

UK & European stocks closed down in the afternoon trade.

Shares slumped in volatile trading on Wall Street following the release of a stronger-than-expected US non-farm payrolls report.

Gold prices rebounded as uncertainty surrounding the incoming Trump administration’s policies lifted safe-haven appeal, even as a stronger-than-expected U.S. employment data reinforced expectations the Federal Reserve might not cut interest rates as aggressively this year.

Oil prices surged and were on track for a third straight week of gains as traders focused on potential supply disruptions from more sanctions on Russia and Iran.

In corporate news, Sainsbury’s fell after the supermarket chain said it would increase wages by 5% after bumper sales in its key Christmas quarter.

Sales over the four weeks to 4 January rose 3.8%, and Sainsbury's said it expected annual underlying retail operating profit to increase 7% at the mid-point of its £1.01bn - £1.06bn guidance range.

Third-quarter underlying sales rose 2.8%, with grocery up 4.1% and general merchandise and clothing down 0.1%. The Argos business was 1.4% lower during the period.

Markets

the close

FTSE 100 8,251 (-0.82%)

FTSE 250 19,744 (-1.30%)

DAX 20,213 (-0.51%)

16:30

Dow Jones 41,983 (-1.53%)

S&P 500 5,823 (-1.61%)

NASDAQ 19,096 (-1.96%)

Fixed Income

UK 10-YR YIELD 4.851

Exchange Rates

GBP/USD 1.220

GBP/EUR 1.192

Commodities

Gold $2,691 +0.84%

Brent $78.39 +1.94%

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.