Friday,26 January 2024 08:23:10

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Friday,26 January 2024 at 08:23

UK & European stocks rose at the open following gains on Wall Street, as investors eyed the latest US inflation data.

Asia-Pacific markets mostly declined as electric vehicle stocks in the region dropped for a second day, while investors also digested inflation data from Tokyo.

Gold prices were set for their second consecutive weekly fall in the face of a resilient U.S. economy that kept the dollar near multi-week highs, while the focus shifted to a key inflation print due later in the day.

Oil prices eased but were set for their biggest weekly gain since October as positive U.S. economic growth and signs of Chinese stimulus boosted fuel demand sentiment.

In corporate news, WH Smith posted an 8% jump in total group revenues for the 20 weeks to 20 January 2024, as it hailed strong momentum in the travel business.

Chief executive Carl Cowling said: "I am pleased with the start to the financial year. Our travel business is growing strongly across all our divisions and we have seen a notably strong performance in the UK, our largest division, with total revenue up 15% and like-for-like revenue up 14%."

Markets

08:20

FTSE 100 7,585 +0.74%

FTSE 250 19,197 (-0.13%)

DAX 16,871 (-0.21%)

the close

Dow Jones 38,049 +0.64%

S&P 500 4,894 +0.53%

NASDAQ 15,510 +0.18%

Fixed Income

UK 10-YR YIELD 3.957

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.171

Commodities

Gold $2,021 +0.07%

Brent $81.39 (-0.55%)

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.