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Friday,16 October 2020 at 07:27

U.K. and European markets opened higher with the rapid spread of coronavirus through the continent remaining on investors’ radar. E.U. leaders have called for post-Brexit trade talks to continue beyond the end of the week - the deadline suggested by Prime Minister Boris Johnson. 


Stocks across Asia-Pacific were mostly subdued with negative sentiment on the coronavirus front. 

Oil prices were lower on concerns that a spike in Covid-19 cases in Europe and the United States is curtailing demand in two of the world’s biggest fuel consuming regions. 

Gold traded lower as the U.S. dollar held firm while additional U.S. fiscal stimulus appeared unlikely before the presidential election. 

In corporate news, pub chain Wetherspoons swung to an annual loss as it felt the full impact of the coronavirus lockdown and said the government’s latest set of curbs had led to a 15% fall in like-for-like sales in the first 11 weeks of the current fiscal year. 

Serco reported strong revenue growth in the third quarter, which in conjunction with good cost control, meant it was upgrading its full-year revenue guidance to around £3.9bn, and underlying trading profit to between £160m and £165m.

Markets
At 08:20
FTSE 100 5,912 +1.37%
FTSE 250 17,922 +0.47%
DAX 12,786 +0.65%
At the close
Dow Jones 28,494 (-0.07%)
S&P 500 3,483 (-0.15%)
NASDAQ 11,713 (-0.47%)
Fixed Income
UK 10-YR YIELD 0.182
Exchange Rates
GBP/USD 1.290
GBP/EUR 1.102
Commodities
Gold $1,907 (-0.05%)
Brent $42.76 (-0.54%)
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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