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Thursday,16 March 2023 at 08:42

UK and European markets opened higher as regional investors breathed a sigh of relief after the Swiss National Bank said it would provide a liquidity backstop to beleaguered bank Credit Suisse.

Asia-Pacific markets dropped but largely pared losses as the trading day went on as turmoil around Credit Suisse added onto banking fears in the region.

Oil prices rose in early Asian trade, clawing back some ground from more than one-year lows hit in the previous session.

Gold retreated from a safe-haven-driven rally, which sent prices to their highest since early-February.

In corporate news, meal delivery firm Deliveroo on Wednesday said it was set to lift earnings this year and announced a £50m share buyback after an improved second half of 2022.

The company forecast core earnings of £20-50m. Gross transaction value (GTV), a key measure for the company, rose 9% year-on-year to £6.8bn, driven by continued market share gains in the UK and Ireland and key international markets such as France and Italy

At 08:15
FTSE 100 7,423 +0.41%
FTSE 250 18,775 +0.81%
DAX 14,880 +1.04%
At the close
Dow Jones 31,874 (-0.87%)
S&P 500 3,891 (-0.70%)
NASDAQ 11,434 +0.05%
Fixed Income
UK 10-YR YIELD 3.437
Exchange Rates
GBP/USD 1.209
GBP/EUR 1.138
Gold $1,917 (-0.04%)
Brent $74.52 +0.38%
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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