Tuesday,23 April 2024 08:18:26

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Tuesday,23 April 2024 at 07:17

UK & European stocks headed higher at the open, building on positive momentum in the previous session.

Asia-Pacific markets mostly extended gains as tech shares rebounded on Wall Street and investors assess flash business activity figures from Australia, Japan and India.

Oil prices edged higher in early Asian trading, reversing losses from the previous session, as investors continued to assess the risk from geopolitical concerns in the Middle East.

Gold prices fell to their lowest levels in more than two weeks on easing concerns of an escalation in the Middle East crisis, and as investors booked profits while awaiting key U.S. data for fresh clues on the Federal Reserve’s rate trajectory.

In UK corporate news, Primark owner Associated British Foods posted a jump in interim profit and revenue on Tuesday as it lifted its full-year profit outlook. In the 24 weeks to 2 March, adjusted pre-tax profit rose 37% to £911m, on revenue of £9.7bn, up 2% at actual rates and 5% at constant currency. The company said revenue growth was driven by continued good momentum in retail and food businesses. Adjusted operating profit was up 39% at £951m. Looking ahead, AB Foods said it was on track to deliver “significant” growth in both profitability and cash generation ahead of expectations at the start of this financial year.

Markets

08:15

FTSE 100 8,071 +0.59%

FTSE 250 19,640 +0.21%

DAX 17,906 +0.26%

the close

Dow Jones 38,239 +0.67%

S&P 500 5,010 +0.87%

NASDAQ 15,451 +1.11%

Fixed Income

UK 10-YR YIELD 4.225

Exchange Rates

GBP/USD 1.233

GBP/EUR 1.159

Commodities

Gold $2,304 (-0.95%)

Brent $87.18 +0.93%

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.