Friday,10 May 2024 08:32:30

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Friday,10 May 2024 at 07:32

UK & European markets opened higher as positive momentum continued into the end of the week.

Hong Kong led Asia-Pacific stocks higher as markets tracked Wall Street gains, with renewed hopes for rate cuts by the U.S. Federal Reserve bolstering market sentiment.

Gold prices were higher in early trading.

Oil prices rose, continuing upwards trend on the signs of improving economy in China and as negotiations to halt hostilities in the stand-off between Israel and Hamas yielded no results.

In corporate news, British Airways owner IAG said it was "well positioned" for the summer after posting a huge rise in first-quarter profit on the back of strong leisure travel demand, especially over the Easter holidays.

Operating profit before exceptional items in the three months to March 31 surged to €68m from €9m a year earlier.

Passenger capacity grew 7% over the period.

Markets

At 08:15

FTSE 100 8,422 +0.50%

FTSE 250 20,598 +0.32%

DAX 18,761 +0.41%

At the close

Dow Jones 39,387 +0.85%

S&P 500 5,214 +0.51%

NASDAQ 16,346 +0.27%

Fixed Income

UK 10-YR YIELD 4.111

Exchange Rates

GBP/USD 1.253

GBP/EUR 1.253

Commodities

Gold $2,367 +0.92%

Brent $84.30 +0.25%

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.