Thursday,08 February 2024 08:24:48

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Thursday,08 February 2024 at 08:28

UK & European markets opened positively as investors focus on a slew of earnings set to come.

Japan’s Nikkei led gains in Asia-Pacific markets, hitting fresh 34-year highs, after a report suggested the country’s central bank would not aggressively tighten its monetary policy.

Gold prices steadied as a pushback from U.S. Federal Reserve officials on market hopes for early interest rate cuts offset safe-haven demand.

Oil prices rose after Israel rejected a ceasefire offer from Hamas, as talks continued to try to end the Gaza conflict and wider Middle East tensions that have kept the market on edge since October.

In corporate news, consumer goods giant Unilever announced a €1.5bn share buyback as it reported lower annual profit and sales and said it expected a “modest improvement” in operating margin in 2024.

Pre-tax profit at the maker of Dove soap and Cornetto ice-cream fell to €9.3bn last year from €10.3bn. Turnover came in at €9.7bn from €10.75bn.

Markets

At 08:15

FTSE 100 7,642 +0.20%

FTSE 250 19,169 +0.34%

DAX 16,933 +0.07%

At the close

Dow Jones 38,677 +0.40%

S&P 500 4,995 +0.82%

NASDAQ 15,756 +0.95%

Fixed Income

UK 10-YR YIELD 3.991

Exchange Rates

GBP/USD 1.262

GBP/EUR 1.171

Commodities

Gold $2,032 (-0.11%)

Brent $79.50 +0.22%

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.