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Friday,10 March 2023 at 17:01

UK and European markets closed lower, led by a sell-off in the banking sector.

U.S. stocks edged higher recovering from morning losses after the crucial jobs report came in warmer than expected and jitters over troubles at Silicon Valley Bank continued to weigh on markets.

Oil prices edged higher, buoyed by better-than-expected U.S. employment data.

Gold priced higher.

In corporate news, SVB Financial Group is exploring options, including a sale, after its efforts to raise capital through a stock sale failed.

Shares of SVB were halted on Friday after tumbling as much as 66% in premarket trading.

SVB, a relatively unknown bank outside of Silicon Valley, lends to higher-risk tech startups that have recently been hurt by higher interest rates and dwindling venture capital.

At the close
FTSE 100 7,748 (-1.67%)
FTSE 250 19,357 (-1.70%)
DAX 15,427 (-1.31%)
At 17:00
Dow Jones 32,356 +0.31%
S&P 500 3,928 +0.27%
NASDAQ 11,359 +0.17%
Fixed Income
UK 10-YR YIELD 3.643
Exchange Rates
GBP/USD 1.204
GBP/EUR 1.129
Gold $1,855 +1.45%
Brent $82.30 +0.99%
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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