Wednesday,12 January 2022 16:49:24

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Wednesday,12 January 2022 at 16:56

UK and European stocks nudged higher as investors monitored the latest reading of U.S. inflation data to assess the economic picture in the world’s biggest economy.

U.S. stocks rose as investors eyed a new report on inflation, which showed another decades-high rate of price increases across the recovering economy.

Oil prices steadied after rising in the previous session on expectations that fuel demand will continue to strengthen as the U.S. Federal Reserve is likely to raise interest rates more slowly than expected..

Gold steadied although bullion’s gains were offset by improved appetite for riskier assets since the rise in consumer prices were mostly in line with expectations.

In corporate news, miners were the standout gainers as metals prices rose, with BHP, Antofagasta, Rio, Glencore and Anglo American all higher.

Whitbread rallied as it hailed a resilient third-quarter performance in the UK despite the emergence of the Omicron variant, but said trading in pubs and restaurants remained more challenging.

Markets

At the close

FTSE 100 7,551 +0.81%

FTSE 250 23,047 +0.08%

DAX 16,003 +0.40%

At 16:55

Dow Jones 36,256 +0.02%

S&P 500 4,720 +0.15%

NASDAQ 15,169 +0.10%

Fixed Income

UK 10-YR YIELD 1.144

Exchange Rates

GBP/USD 1.369

GBP/EUR 1.198

Commodities

Gold $1,824 +0.16%

Brent $84.92 +1.38%

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.