Thursday,02 February 2023 08:49:53

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Thursday,02 February 2023 at 08:50

UK & European markets were higher at the open as investors digested the latest move by the U.S. Federal Reserve and look ahead to more decisions by central banks in Europe.

Stocks in the Asia-Pacific traded mostly higher as investors digested the U.S. Federal Reserve’s smaller rate hike of 25 basis points and Fed Chairman Jerome Powell acknowledged inflation is falling.

Oil prices rose after the U.S. Federal Reserve raised interest rates by 25 basis points, sending the dollar lower.

Gold prices extended gains to touch their highest in more than nine months.

In corporate news, oil and gas giant Shell posted a record fourth-quarter profit of $9.8bn driven by higher trading from its liquefied natural gas (LNG) operations.

Annual earnings doubled to $39.87bn, also a record, as the company cashed in on soaring energy prices inflamed by Russia's invasion of Ukraine a year ago.

Markets

At 08:30

FTSE 100 7,785 +0.33%

FTSE 250 20,094 +0.99%

DAX 15,274 +0.61%

At the close

Dow Jones 34,092 +0.02%

S&P 500 4,119 +1.05%

NASDAQ 11,816 +2.00%

Fixed Income

UK 10-YR YIELD 3.232

Exchange Rates

GBP/USD 1.238

GBP/EUR 1.125

Commodities

Gold $1,959 +0.48%

Brent $83.15 +0.19%

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.