Monday,05 February 2024 08:19:37

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Monday,05 February 2024 at 08:19

UK & European stocks rose at the open as investors eyed the latest reading on the UK services sector.

China stocks reversed losses to snap a five-day losing streak while most Asia markets kickstarted the holiday-shortened week largely lower on fears of higher-for-longer interest rates.

Gold prices fell, as the U.S. dollar and Treasury yields surged after a robust jobs report crushed expectations of near-term interest rate cuts from the Federal Reserve.

Oil prices stabilized in early Asian trading on Monday after sharp falls last week, amid continued attempts to reach a ceasefire in the Israel-Palestinian conflict even as the U.S. planned new strikes on Iran-backed groups.

In UK corporate news, telecoms giant Vodafone held full-year guidance as it reported a fall in third-quarter service revenues.

The company said service revenues fell 1.4% to €9.3bn on a reported basis. Vodafone still expects adjusted core earnings of around €13.3bn and adjusted free cash flow of €3.3bn.

Markets

08:15

FTSE 100 7,641 +0.34%

FTSE 250 19,200 +0.14%

DAX 16,925 +0.05%

the close

Dow Jones 38,654 +0.35%

S&P 500 4,958 +1.07%

NASDAQ 15,628 +1.74%

Fixed Income

UK 10-YR YIELD 3.961

Exchange Rates

GBP/USD 1.262

GBP/EUR 1.170

Commodities

Gold $2,024 (-0.75%)

Brent $77.57 +0.29%

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.