Thursday,06 March 2025 08:23:31

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Thursday,06 March 2025 at 08:19

UK and European markets are heading for a higher open as investors look ahead to the latest monetary policy decision of the European Central Bank.

The main focus for European markets on Thursday is the ECB, with the central bank widely expected to cut its key interest rate by 25 basis points, to 2.5%, amid an easing in euro zone inflation in recent months.

Asian stock markets are trading mostly higher following the broadly positive cues from Wall Street overnight, as traders react positively to news of a one-month delay in certain U.S. tariffs on Mexico and Canada imports as well as tumbling crude oil prices. Asian Markets closed mixed on Wednesday.

Oil slips as OPEC+ plans to boost output, raising concerns over increased supply and weaker demand.

Gold price holding above $2,900 as it tries to build support at that level.

In corporate news, annual profits at recruiter PageGroup slumped in 2024 as economic uncertainty continued to hit client and candidate confidence.

Pre-tax profit for the year to December fell 58% to £49.1m on revenue of £1.73bn, down 13.5%.

Page said the conversion of interviews to accepted offers “remains the most significant area of challenge”, adding that the slow end to 2024 had continued into the first two months of the new year.

Endeavour Mining reported a strong 2024, with record fourth-quarter free cash flow of $268m and full-year production of 1,103,000 ounces at an all-in sustaining cost of $1,218 per ounce.

Adjusted EBITDA jumped to $1.325bn for the year, up from $1.047bn, while net debt was reduced to $732m, bringing the leverage ratio to 0.55x.

Shareholder returns reached $277m, including a record $240m dividend, as the company expanded reserves by 32% to 18.4 million ounces and advanced its Assafou project.

Markets

At 08:20

FTSE 100 8,738 (-0.20%)

FTSE 250 20,209 +0.39%

DAX 23,347 +1.16%

At the close

Dow Jones 43,006 +1.14%

S&P 500 5,842 +1.12%

NASDAQ 18,552 +1.46%

Fixed Income

UK 10-YR YIELD 4.702

Exchange Rates

GBP/USD 1.289

GBP/EUR 1.194

Commodities

Gold $2,907 (-0.39%)

Brent $69.50 +0.25%

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.