Monday,29 January 2024 08:25:02

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Monday,29 January 2024 at 08:25

UK & European stocks opened muted as investors looked ahead to a busy week for earnings and central banks.

Evergrande’s shares halted trading after Hong Kong’s high court ordered the liquidation of the embattled Chinese property developer.

Oil prices jumped 1% on fuel supply concerns after a missile struck a Trafigura-operated fuel tanker in the Red Sea and as Russian refined products exports are set to fall as several refineries are under repair after drone attacks.

Gold prices rose as escalating tensions in the Middle East lifted bullion’s safe-haven appeal, while moves were limited as traders awaited the U.S. Federal Reserve chair Jerome Powell’s remarks this week for cues on interest rate trajectory.

Biopharma giant GSK has been given the green light by European regulators to sell Omjjara, its treatment for patients with a rare type of blood cancer.

GSK announced that Omjjara, its brand name for momelotinib, has been granted marketing authorisation by the European Commission, giving the company permission to market the drug and make it available to patients and healthcare professionals across the EU and EEA-EFTA states of Iceland, Liechtenstein and Norway.

Markets

08:20

FTSE 100 7,641 +0.08%

FTSE 250 19,251 (-0.45%)

DAX 16,920 0.00%

the close

Dow Jones 38,109 +0.16%

S&P 500 4,890 (-0.07%)

NASDAQ 15,455 (-0.36%)

Fixed Income

UK 10-YR YIELD 3.972

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.172

Commodities

Gold $2,032 +0.69%

Brent $83.39 +0.21%

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.