Friday,08 December 2023 17:06:24

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Friday,08 December 2023 at 17:06

UK and European markets held in positive territory on Friday, as traders around the world assessed a key November jobs report out of the U.S.

U.S. stocks rose as investors continued to assess the US monthly jobs report, which could influence the case for the Federal Reserve to start cutting interest rates.

Gold prices were flat, as markets looked forward to the crucial U.S. jobs data for more clues on the Federal Reserve’s monetary policy decision, although a firmer dollar kept bullion on track for its first weekly fall in four.

Oil benchmarks were headed for a seventh straight weekly decline on worries over a global supply surplus and weak Chinese demand, although prices recovered ground on Friday after Saudi Arabia and Russia called for more OPEC+ members to join output cuts.

In corporate news, miner Anglo American tumbled after saying it aimed to cut operational costs by around $1bn by the end of 2024, reducing production by about 4% as near-term constraints and volatile market conditions continued to weigh on earnings.

Markets

At the close

FTSE 100 7,554 +0.54%

FTSE 250 18,701 +0.45%

DAX 16,759 +0.78%

At 16:45

Dow Jones 36,114 (-0.01%)

S&P 500 4,583 (-0.04%)

NASDAQ 14,338 (-0.01%)

Fixed Income

UK 10-YR YIELD 4.041

Exchange Rates

GBP/USD 1.253

GBP/EUR 1.166

Commodities

Gold $1,998 (-1.46%)

Brent $75.70 +1.60%

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.