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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
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%)
Dow Jones 32,356 +0.31%
S&P 500 3,928 +0.27%
NASDAQ 11,359 +0.17%
UK 10-YR YIELD 3.643
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.