Friday,03 March 2023 16:52:26

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Friday,03 March 2023 at 16:54

UK & European stock markets closed higher, recovering from earlier losses.

U.S. stocks rose at the open while bond yields retreated slightly from their recent march.

Oil prices edged higher.

Gold prices climbed to their highest in nearly two weeks and are on track for their biggest weekly rise since mid-January, on the back of a softer dollar as investors gauged the U.S. central bank’s policy path.

In corporate news, Vistry has reportedly told hundreds of employees they may lose their jobs as the housebuilder cuts costs in the midst of a housing slump.

It was understood the firm has begun redundancy consultations with affected employees in the roughly 5,000-strong workforce.

News of the potential job cuts comes after both Persimmon and Taylor Wimpey warned earlier this week of falling sales this year.

Markets

At the close

FTSE 100 7,947 +0.04%

FTSE 250 19,925 +0.37%

DAX 15,584 +1.68%

At 17:00

Dow Jones 33,182 +0.54%

S&P 500 4,016 +0.87%

NASDAQ 11,586 +1.09%

Fixed Income

UK 10-YR YIELD 3.860

Exchange Rates

GBP/USD 1.198

GBP/EUR 1.129

Commodities

Gold $1,846 +0.63%

Brent $85.43 +1.29%

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.