Thursday,16 January 2025 08:33:57

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Thursday,16 January 2025 at 08:29

UK and European markets are expected to open in mixed territory, after gains in the previous trading session as traders cheered a cooler-than-expected inflation print in the U.S.

Asia-Pacific markets mostly climbed, after U.S. markets soared on the back of an unexpected decline in core inflation numbers in December and strong bank earnings.

The Japanese yen strengthened against other major currencies in the Asian session on Thursday, as traders speculate on a Bank of Japan (BoJ) rate hike at its next week monetary policy meeting.

Gold prices were stable after hitting their highest levels in more than a month, as softer U.S. core inflation data lifted expectations of interest rate cuts, although news of a ceasefire accord between Israel and Hamas capped further gains.

Shares of Cartier owner Richemont jumped after the luxury group reported a 10% increase in fiscal third-quarter sales even as China demand weighed.

Other luxury stocks Christian Dior, LVMH and Hermes moved higher as the results marked a positive signal for the health of Europe’s luxury sector over the holiday shopping period.

Markets

AT 08:15

FTSE 100 8,355 +0.68%

FTSE 250 20,376 +0.21%

DAX 20,655 +0.39%

At the close

Dow Jones 43,221 +1.65%

S&P 500 5,949 +1.83%

NASDAQ 19,511 +2.45%

Fixed Income

UK 10-YR YIELD 4.738

Exchange Rates

GBP/USD 1.220

GBP/EUR 1.185

Commodities

Gold $2,701 +0.19%

Brent $81.23 (-0.50%)

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.