Friday,26 January 2024 16:54:15

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Friday,26 January 2024 at 16:54

UK and European stocks reached a two-year high as investors digested the European Central Bank’s latest decision, fresh economic data and fourth-quarter earnings.

The U.S. dollar fell after data showed inflation rose modestly in December but was trending lower, which should keep the Federal Reserve on track to cut interest rates by the middle of the year.

Oil prices are on pace for a weekly gain as U.S. economic growth and stimulus in China raise hopes for more robust crude demand this year.

Gold prices held steady as investors’ attention shifted to the U.S. Federal Reserve’s policy meeting due next week for more insights into the interest rate outlook.

Shares in LVMH sparkled on Friday, after the world’s biggest luxury goods firm posted stronger-than-expected sales and raised the dividend.

The owner of Moet Hennessy and Louis Vuitton reported a 13% jump in full-year revenues, to €86.2bn, boosted by a strong fourth quarter.

Markets

At the close

FTSE 100 7,635 +1.40%

FTSE 250 19,338 +0.60%

DAX 16,959 +0.31%

At 16:45

Dow Jones 38,171 +0.32%

S&P 500 4,902 +0.17%

NASDAQ 15,520 +0.06%

Fixed Income

UK 10-YR YIELD 3.967

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.170

Commodities

Gold $2,018 (-0.11%)

Brent $81.09 (-0.92%)

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.