Monday,06 March 2023 08:32:49

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Monday,06 March 2023 at 08:35

UK & European markets opened higher, extending gains from the previous session.

Stocks in Asia-Pacific traded mixed as investors further digested China’s growth target set in its parliamentary sessions and looked ahead to a week of economic data.

Oil prices opened lower after China set a modest target for economic growth this year of around 5%, lower than market expectations of 5.5% growth in the world’s second largest oil consumer.

Gold prices ticked lower as central banks indicated further interest rate hikes to tame stubbornly high inflation, diminishing bullion’s appeal as a hedge against price increases.

In corporate news, shipping services company Clarkson reported a sharp rise in annual earnings, driven by a strong performance in its broking division.

Pre-tax profit for the 2022 calendar year came in at £100.1m, compared with £69.1m a year earlier. The total dividend was lifted to 93p a share from 84p.

Markets

At 08:25

FTSE 100 7,942 (-0.05%)

FTSE 250 19,931 +0.03%

DAX 15,606 +0.18%

At the close

Dow Jones 33,390 +1.17%

S&P 500 4,045 +1.61%

NASDAQ 11,689 +1.97%

Fixed Income

UK 10-YR YIELD 3.833

Exchange Rates

GBP/USD 1.203

GBP/EUR 1.129

Commodities

Gold $1,856 +0.08%

Brent $85.39 (-0.63%)

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.