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Tuesday,07 March 2023 at 08:21

UK & European stocks rose at the open as investors eye a speech by US Federal Reserve chair Jerome Powell.

Asia-Pacific shares were mixed as traders looked ahead to Federal Reserve Chair Jerome Powell’s congressional testimony on Tuesday and Wednesday, which will inform the central bank’s next moves on its rate-hiking decision.

Oil prices edged up after industry executives flagged concerns about limited spare capacity in the market and uncertainty over Russian supplies while demand from top crude importer China is recovering.

Gold prices rose marginally as investors awaited U.S. Federal Reserve Chair Jerome Powell's testimony to Congress and monthly jobs data, both of which could influence interest rate policy.

In corporate news, equipment rental firm Ashtead said full-year results were set to be ahead of its previous expectations following a strong third-quarter performance, as it highlighted "robust" end markets.

Adjusted pre-tax profit for Q3 rose to $535m from $427m in the same period a year earlier, with revenue up 21% to £2.4bn.

FTSE 100 7,921 (-0.10%)
FTSE 250 20,031 (-0.16%)
DAX 15,643 (-0.06)
the close
Dow Jones 33,431 +0.12%
S&P 500 4,048 +0.07%
NASDAQ 11,675 (-0.11%)
Fixed Income
UK 10-YR YIELD 3.872
Exchange Rates
GBP/USD 1.201
GBP/EUR 1.126
Gold $1,846 (-0.08%)
Brent $86.18 (-0.05%)
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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