Wednesday,01 February 2023 08:59:07

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Wednesday,01 February 2023 at 09:00

UK & European markets opened higher with investors keeping a close eye on the U.S. Federal Reserve’s next monetary policy decision later today.

Asia-Pacific shares traded higher as investors looked ahead to the Federal Reserve’s Wednesday meeting, as well as some economic data in the region.

Gold priced lower.

Oil prices climbed underpinned by a weaker dollar, which fell on signs of slowing inflation in the United States, easing fears that the world’s largest oil user may face a recession because of further interest rate hikes.

In corporate news, Entain lifted its full-year profit expectations as it reported a record fourth quarter for both net gaming revenues and active customers.

The Ladbrokes owner now forecasts FY22 earnings before interest, tax, depreciation and amortisation of between £985m and £995m, up around 12% year-on-year and ahead of expectations.

Markets

At 08:30

FTSE 100 7,789 +0.22%

FTSE 250 19,944 +0.46%

DAX 15,146 +0.12%

At the close

Dow Jones 34,086 +1.09%

S&P 500 4,076 +1.46%

NASDAQ 11,584 +1.67%

Fixed Income

UK 10-YR YIELD 3.287

Exchange Rates

GBP/USD 1.231

GBP/EUR 1.132

Commodities

Gold $1,925 (-0.14%)

Brent $86.10 +0.69%

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.