Friday,16 February 2024 16:54:22

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Friday,16 February 2024 at 16:52

UK and European stocks closed higher following two positive sessions that have taken the European regional benchmark back toward its recent record highs.

US stocks fell slightly after another hotter-than-expected inflation reading undermined the case for interest rate cuts.

Gold priced higher.

Oil slipped as a forecast of slowing demand by the International Energy Agency offset support from geopolitical tensions and hopes that the U.S. Federal Reserve might cut interest rates sooner than expected.

In corporate news, Close Brothers fell sharply again as Berenberg slashed its price target on the shares and cut estimates after the merchant bank announced on Thursday that it was scrapping its dividend amid a regulator probe into car financing.

Markets

At the close

FTSE 100 7,711 +1.50%

FTSE 250 19,191 +0.48%

DAX 17,110 +0.38%

At 16:35

Dow Jones 38,728 (-0.11%)

S&P 500 5,029 +0.00%

NASDAQ 15,881 (-0.16%)

Fixed Income

UK 10-YR YIELD 4.103

Exchange Rates

GBP/USD 1.259

GBP/EUR 1.168

Commodities

Gold $2,009 +0.29%

Brent $83.16 +0.47%

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.