Monday,12 February 2024 08:19:21

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Monday,12 February 2024 at 08:20

UK & European stocks rose at the open after the S&P 500 closed above the 5,000 level for the first time on Friday.

Asia markets were mixed to start a holiday-shortened week for most markets, while China remains shut for the week.

Gold prices steadied in a tight range in holiday-thinned trading, as investors awaited remarks from a slew of U.S. Federal Reserve officials in a data-packed week.

Oil prices fell in early Asian trade after Israel said it had “concluded” a series of strikes in southern Gaza, slightly easing concerns about supply from the Middle East.

In corporate news, Tritax Big Box said it had agreed terms on a possible bid for UK Commercial Property REIT in an all-share deal worth £924m.

The company said it had offered 0.444 new Tritax shares for every UKCP share, leaving it with 76.7% of the merged group and UKCM shareholders with the remainder.

It also represents a 10.8% premium to UKCP’s closing share price of 64.2 pence per share on February 9.

Markets

08:15

FTSE 100 7,574 +0.03%

FTSE 250 19,144 +0.43%

DAX 16,976 +0.29%

the close

Dow Jones 38,671 (-0.14%)

S&P 500 5,026 +0.57%

NASDAQ 15,990 +1.25%

Fixed Income

UK 10-YR YIELD 4.055

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.170

Commodities

Gold $2,025 +0.07%

Brent $81.46 (-0.30%)

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.