Friday,08 December 2023 08:19:06

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Friday,08 December 2023 at 08:19

UK & European stocks looked set for a firmer open as investors eyed the release of the latest US non-farm payrolls report.

Asia-Pacific markets were mixed as Japan’s third-quarter GDP was revised downward in a surprise move, while India’s central bank held its benchmark lending rate steady.

Gold prices were on track for their first weekly fall in four after the dollar firmed, although they traded steadily on Friday ahead of a key U.S. jobs data to gauge the potential of a rate cut by the Federal Reserve as early as March.

Oil prices rose in early trade but were on track to fall 6% for the week, hovering near six-month lows, with investors fretting about weak energy demand in Asia combined with high U.S. crude production.

In corporate news, housebuilder Berkeley Group has decided to not invest in any new developments due to the adverse planning and regulatory environment, and instead focus on "financial strength" following a rise in profits in the first half.

Pre-tax profit in the six months to 31 October increased by 4.6% to £298m, as operating margins held steady at 19.5%.

Markets

08:15

FTSE 100 7,519 +0.06%

FTSE 250 18,620 +0.01%

DAX 16,645 +0.10%

the close

Dow Jones 36,117 +0.17%

S&P 500 4,585 +0.80%

NASDAQ 14,339 +1.37%

Fixed Income

UK 10-YR YIELD 4.003

Exchange Rates

GBP/USD 1.256

GBP/EUR 1.165

Commodities

Gold $2,029 +0.07%

Brent $75.39 +1.21%

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.