Thursday,25 January 2024 17:01:22

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Thursday,25 January 2024 at 17:01

UK and European markets moved higher as investors digested the latest monetary policy decision from the European Central Bank and U.S. growth figures.

The U.S. dollar edged higher after data showed the world’s largest economy grew at a faster pace than expected in the fourth quarter.

Oil prices rose after data showed U.S. crude stockpiles fell more than expected last week, while the Chinese central bank’s cut in banks’ reserve ratio reinforced hopes of more stimulus measures.

Gold prices moved higher as investors digested U.S. economic data and the European Central Bank’s (ECB) policy decision.

Shares in Dr Martens surged on Thursday as investors breathed a sigh of relief that the UK bootmaker held full year guidance after third-quarter revenues slumped by a fifth, driven by a poor performance in the US and from its wholesale channel.

The company, which issued a profits warning in November, posted revenues of £267m for the last three months of 2023, down 21%. Wholesale orders plunged by 46%.

Markets

At the close

FTSE 100 7,529 +0.03%

FTSE 250 19,223 +0.27%

DAX 16,906 +0.10%

At 16:55

Dow Jones 37,911 +0.28%

S&P 500 4,892 +0.48%

NASDAQ 15,576 +0.61%

Fixed Income

UK 10-YR YIELD 3.993

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.171

Commodities

Gold $2,014 +0.03%

Brent $81.58 +2.08%

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.