Monday,22 January 2024 16:57:57

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Monday,22 January 2024 at 16:58

UK and European markets started the new trading week in positive territory with regional investors keeping an eye out for preliminary consumer confidence data from the euro zone for January.

Global currencies steadied as looming central bank decisions in Japan and Europe and vacillating market expectations for U.S. Federal Reserve rate cuts forced a pause in the dollar’s data-spurred rally this year.

Oil prices fell as economic headwinds pressured the global oil demand outlook and outweighed geopolitical concerns in the Middle East and an attack on a Russian fuel export terminal over the weekend.

Gold prices eased as investors rolled back expectations of a U.S. interest rate cut at the end of March, with a surge in equity markets further dampening interest in safe-haven bullion.

Caterer Compass Group confirmed on Monday that it has agreed to buy rival CH&CO in a £475m deal.

Compass said CH&CO has a highly regarded management team and a long track record of strong performance "delivering a bespoke and high-quality food offer through several sector brands".

The company, which provides services in the UK and Ireland, currently generates annual revenues of around £450m and operates across a range of sectors, including business & industry, sports & leisure, education, and healthcare.

Markets

At the close

FTSE 100 7,487 +0.35%

FTSE 250 19,075 +1.08%

DAX 16,683 +0.77%

At 16:50

Dow Jones 38,009 +0.39%

S&P 500 4,857 +0.36%

NASDAQ 15,389 +0.51%

Fixed Income

UK 10-YR YIELD 3.904

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.167

Commodities

Gold $2,023 (-0.31%)

Brent $79.63 +1.66%

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.