Tuesday,14 March 2023 17:06:47

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Tuesday,14 March 2023 at 17:11

UK and European stock markets climbed as traders digested the aftershocks from Silicon Valley Bank’s collapse and reacted to U.S. inflation data.

U.S. stocks rallied as crucial inflation data came in line with expectations.

Oil prices fell about 1% to a five-week low as the collapse of Silicon Valley Bank, a U.S. bank, sparked fears of a fresh financial crisis that could reduce future oil demand.

Gold priced lower.

In corporate news, Virgin Wines posted a slump in interim profits on Tuesday as revenue fell and the company announced a full business review, as it pointed to a challenging backdrop.

In the six months to the end of December 2022, pre-tax profit tumbled to £100,000 from £3.2m the year before, with revenues down to £33.6m from £40.6m.

Markets

At the close

FTSE 100 7,637 +1.17%

FTSE 250 19,129 +1.62%

DAX 15,232 +1.83%

At 17:00

Dow Jones 32,179 +1.15%

S&P 500 3,924 +1.78%

NASDAQ 11,443 +2.28%

Fixed Income

UK 10-YR YIELD 3.474

Exchange Rates

GBP/USD 1.216

GBP/EUR 1.133

Commodities

Gold $1,908 (-0.19%)

Brent $78.92 (-2.13%)

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.