Friday,19 January 2024 08:51:49

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Friday,19 January 2024 at 08:52

UK & European stocks edged up at the open following a positive US session, as investors digest disappointing UK retail sales data.

Taiwan led gains in major Asia-Pacific markets as chip stocks rose, with heavyweight Taiwan Semiconductor Manufacturing Corp surging as much as 6.63%.

Gold prices were headed to mark their biggest weekly drop in six, driven by a robust dollar and higher bond yields as U.S. central bankers pushed back against expectations of early rate cuts amid signs of resilience in the economy.

Oil prices drifted lower after a rally the day before, as geopolitical tensions and disruptions in U.S. oil production from a cold blast were countered by concerns over slow demand growth in China.

In corporate news, Sébastien de Montessus, the former chief executive of Endeavour Mining who was abruptly sacked earlier this month for serious misconduct, is to miss out on $17.6m in bonuses and share awards, the FTSE 100 miner announced late on Thursday.

Furthermore, the company said it is clawing back an additional $11.5m in share awards and bonuses paid in respect of the past three years' service.

Markets

08:45

FTSE 100 7,505 +0.62%

FTSE 250 19,008 +0.32%

DAX 16,616 +0.30%

the close

Dow Jones 37,468 +0.54%

S&P 500 4,780 +0.88%

NASDAQ 15,055 +1.35%

Fixed Income

UK 10-YR YIELD 3.89

Exchange Rates

GBP/USD 1.267

GBP/EUR 1.165

Commodities

Gold $2,027 +0.25%

Brent $78.97 +0.06%

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.