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Monday,18 May 2020 at 16:05

UK and European stocks closed sharply higher as investor confidence rose with lockdown restrictions around the world being lifted.

The dollar held firm as optimism about a reopening of economies stifled by the coronavirus pandemic kindled cautious risk appetite.

Oil prices climbed, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading.

Gold jumped after a batch of weak data knocked hopes for a speedy global economic recovery while auto-catalyst palladium surged to a three-week high.

In corporate news, easyJet and IAG were higher amid optimism over easing travel restrictions, while cruise operator Carnival also rallied.

Precious metals miner Fresnillo shone as gold prices hit a near eight-year high.

On the downside, Ocado was weaker on news that German discounter Aldi will trial grocery home delivery with Deliveroo.

Markets
At the close
FTSE 100 6,048 +4.29%
FTSE 250 16,230 +3.63%
DAX 11,058 +5.67%
At 17:00
Dow Jones 24,502 +3.45%
S&P 500 2,951 +3.08%
NASDAQ 9,229 +2.39%
Fixed Income
UK 10-YR YIELD 0.26
Exchange Rates
GBP/USD 1.219
GBP/EUR 1.118
Commodities
Gold $1,734 (-0.39%)
Brent $35.20 +7.06%
This report has been prepared for private circulation. 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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