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Friday,16 October 2020 at 16:12
UK and European markets closed sharply higher with the rapid spread of coronavirus through the continent remaining on investors’ radar.
The dollar edged lower on a global surge in coronavirus cases and fading prospects for a U.S. stimulus package before the Nov. 3 election.
Oil prices slid dragged down by 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 prices steadied but fading chances of an U.S. stimulus agreement before the presidential election kept bullion on track for its first weekly decline in three.
Rolls-Royce was the top gainer after Europe’s aviation regulator said the Boeing 737 Max is safe enough to return to the skies before the end of the year. RR makes engines for Boeing.
Luxury fashion Burberry was on the rise following well-received third-quarter results from LVMH Moet Hennessy Louis Vuitton.
At the close
FTSE 100 5,919 +1.49%
FTSE 250 17,822 (-0.09%)
DAX 12,908 +1.62%
Dow Jones 28,731 +0.83%
S&P 500 3,500 +0.50%
NASDAQ 11,741 +0.23%
UK 10-YR YIELD 0.18
Gold $1,901 (-0.35%)
Brent $42.96 (-0.07%)
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.