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Tuesday,06 February 2024 at 08:31
UK & European markets opened higher as investor
confidence remains robust despite the lack of a clear timetable for interest
China and Hong Kong stocks
surged as authorities in the world’s second-largest economy
took measures to arrest a recent sell-off in its equities, while most
Asia-Pacific markets declined.
Gold prices lingered near
their lowest level in almost two weeks, pressured by a
firmer dollar and elevated Treasury yields, as traders lowered expectations of
aggressive interest rate cuts by the U.S. Federal Reserve this year.
Oil prices were
little moved in early trading, as market participants assessed
a visit to the Middle East by U.S. Secretary of State Antony Blinken to discuss
a ceasefire offer in the region.
In corporate news, oil giant BP announced
a $1.75bn share buyback despite a slump in annual profits.
The company said underlying replacement cost profit for 2023 halved to $13.8bn
from $27.6bn a year earlier. Looking ahead, it expects first quarter 2024
reported upstream production to be higher compared to the final three months of
FTSE 100 7,687 +0.98%
FTSE 250 19,094 +0.40%
DAX 16,945 +0.25%
At the close
Dow Jones 38,380 (-0.71%)
S&P 500 4,942 (-0.32%)
NASDAQ 15,597 (-0.20%)
UK 10-YR YIELD 4.002
Gold $2,025 +0.08%
Brent $78.17 +0.42%
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.