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Thursday,13 January 2022 at 08:28

UK and European stocks opened lower as global markets falter following the latest U.S. inflation reading showing consumer prices rose once again in December.

Asia-Pacific markets mostly fell as Wall Street saw gains despite a red-hot inflation report that set market expectations for rate hikes.

Oil prices slipped amid uncertainty over near-term demand as cases of the highly contagious omicron variant of the coronavirus surge around the globe.

Gold prices held near a one-week high as the U.S. dollar and Treasury yields retreated after inflation data came in line with expectations and reiterated the need for a quicker interest rate hike.

In equity markets, supermarket chain Tesco lifted annual profits guidance after better-than-expected third-quarter and Christmas sales.

The company said it now expected retail operating profit to be slightly above the top-end of previous £2.5bn - £2.6bn guidance, and forecast bank operating profit to be between £160m - £200m, due to the effect of more favourable economic forecasts on its provision for expected credit losses. 

At the close
FTSE 100 7,542 (-0.12%)
FTSE 250 23,000 (-0.19%)
DAX 15,963 (-0.32%)
At 08:15
Dow Jones 36,290 +0.11%
S&P 500 4,726 +0.28%
NASDAQ 15,188 +0.23%
Fixed Income
UK 10-YR YIELD 1.156
Exchange Rates
GBP/USD 1.373
GBP/EUR 1.197
Gold $1,825 (-0.04%)
Brent $84.53 (-0.33%)
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.

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