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Tuesday,15 September 2020 at 07:35

U.K. and European stocks opened slightly higher as investors shift their focus to upcoming central bank meetings by the U.S. Federal Reserve, Bank of Japan and Bank of England.  


Stocks in Asia-Pacific were mostly higher as investors watched China’s August economic data released earlier in the day. 

Oil prices slipped as worries over slow recovery in global fuel demand were reinforced by warnings by major oil producers, but short-covering ahead of a meeting later this week of OPEC and its allies, known as OPEC+, limited losses. 

Gold traded higher as the U.S. dollar weakened and investors turned their focus to a U.S. Federal Reserve monetary policy meeting, seeking details of how it planned to hold down rates while aiming to boost inflation. 

In corporate news, online grocer and technology firm Ocado recorded a sharp rise in third quarter revenue driven by continued higher average spends as it forecast annual core earnings of £40m. The company, which has started its new partnership with Marks & Spencer, said revenue in the 13 weeks to August 30 grew 52% to £587.3m with average weekly orders up 9.6% to 345,000. 

Next has acquired a majority stake in the UK and Irish arm of L Brands’ Victoria's Secret unit for an undisclosed sum as part of a joint-venture agreement. The unit went into administration in June after being forced to shut its 25 stores due to the pandemic.

Markets
At 08:16
FTSE 100 6,042 +0.27%
FTSE 250 17,750 +0.41%
DAX 13,230 +0.28%
At the close
Dow Jones 27,993 +1.18%
S&P 500 3,383 +1.27%
NASDAQ 11,056 +1.87%
Fixed Income
UK 10-YR YIELD 0.197
Exchange Rates
GBP/USD 1.285
GBP/EUR 1.081
Commodities
Gold $1,963 +0.38%
Brent $39.48 (-0.50%)
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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