Wednesday,24 January 2024 08:22:47

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Wednesday,24 January 2024 at 08:23

UK & European stocks rose at the open following a positive session on Wall Street, as investors eyed the latest reading on the UK services and manufacturing sectors.

Hong Kong’s Hang Seng index surged over 3%, powered by tech stocks as other Asia-Pacific markets mostly fell.

Gold prices inched lower as strong U.S. economic data doused hopes for early interest rate cuts by the Federal Reserve, while investors awaited a slew of economic reports this week.

Oil prices edged lower, weighed down by concerns over tepid demand and a stronger dollar even though escalating geopolitical tensions limited the losses.

In corporate news, budget airline easyJet said it had taken a £40m hit from the Middle East conflict, but said it expected first-half losses to narrow and reported positive booking momentum for the summer.

The airline was forced to suspend flights to Israel and Jordan after the Hamas Islamic group attacked Israel last October, with demand also softening on its routes to Egypt.

Pre-tax losses for the three months to December 31 came in at £126m from £133m a year earlier. Revenues were up 16% to £1.1bn.

Markets

08:20

FTSE 100 7,524 +0.51%

FTSE 250 19,079 +0.46%

DAX 16,797 +1.03%

the close

Dow Jones 37,905 (-0.25%)

S&P 500 4,864 +0.29%

NASDAQ 15,425 +0.43%

Fixed Income

UK 10-YR YIELD 3.955

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.169

Commodities

Gold $2,029 +0.02%

Brent $79.94 +0.75%

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.