Thursday,30 January 2025 08:42:14

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Thursday,30 January 2025 at 08:37

UK and European markets open higher as investors await key earnings, economic data and the European Central Bank’s latest monetary policy decision.

The ECB is expected to kick off its first meeting of 2025 with a 25-basis-point interest rate cut Thursday. The move would bring its key overnight deposit facility rate to 2.75%, marking its fifth cut since the bank began easing monetary policy last June.

Japanese and Australian markets climbed, breaking ranks with Wall Street that fell overnight as the Federal Reserve kept interest rates unchanged. Several Asia-Pacific markets were closed for the Lunar New Year holiday.

Gold prices were flat in early Asian hours after the Federal Reserve’s decision to hold interest rates steady offered little clarity on the U.S. monetary policy path this year.

Oil prices were little changed in early trading as markets watched for tariffs by U.S. President Donald Trump on Mexico and Canada, the two largest suppliers of crude oil to United States.

In UK corporate news, corporate software group Sage said it has made a strong start its new financial year with revenues rising by a tenth in the first quarter, as all regions delivered solid growth.

Revenues totalled £612m in the three months to 31 December, up from £558m a year earlier, with Sage Business Cloud revenues up 13% at £502m

Markets

At 8:40

FTSE 100 8,572 +0.17%

FTSE 250 20,712 +0.76%

DAX 21,704 + 0.31%

At the close

Dow Jones 44,713 (-0.31%)

S&P 500 6,039 (-0.47%)

NASDAQ 19,632 (-0.51%)

Fixed Income

UK 10-YR YIELD 4.585

Exchange Rates

GBP/USD 1.244

GBP/EUR 1.194

Commodities

Gold $2,772 +0.51%

Brent $75.27 (-0.86%)

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.