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Tuesday,15 September 2020 at 16:07

UK and European stocks closed higher as investors shifted their focus to upcoming central bank meetings by the U.S. Federal Reserve, Bank of Japan and Bank of England. 

The dollar dropped to a two-week low on expectations the Federal Reserve will maintain its downbeat stance on the U.S. 

Oil prices edged slightly higher, but forecasts of a slower than expected recovery in global fuel demand due to the coronavirus pandemic weighed on the price.

Gold slipped, although hopes for a dovish monetary policy stance from the U.S. Federal Reserve limited the safe-haven metals’ losses.

In corporate news, Ocado rallied after it recorded a sharp rise in third-quarter revenue, driven by continued higher average spends as it forecast annual core earnings of £40m.

RSA Insurance was also in the black even as the Financial Conduct Authority claimed a partial victory in a closely-watched test case concerning business interruption payouts during the Covid-19 pandemic.

Flutter Entertainment got a boost after peer William Hill said a multi-year deal between its US partner Caesars Entertainment and broadcaster ESPN will feature its sports betting apps and sports book odds.

Markets
At the close
FTSE 100 6,105 +1.32%
FTSE 250 17,815 +0.78%
DAX 13,217 +0.18%
At 16:55
Dow Jones 28,125 +0.47%
S&P 500 3,416 +0.97%
NASDAQ 11,222 +1.50%
Fixed Income
UK 10-YR YIELD 0.22
Exchange Rates
GBP/USD 1.286
GBP/EUR 1.085
Commodities
Gold $1,951 (-0.24%)
Brent $40.20 +1.31%
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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