Thursday,12 November 2020 08:50:20

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Thursday,12 November 2020 at 08:52

U.K. and European stocks opened lower, bucking a positive trend seen in Asia and the U.S. after technology stocks rallied in the previous session.

Stocks in Asia-Pacific were mixed as technology shares in the region bounced from recent declines.

The U.S. dollar held broad gains as investors tempered bullish expectations about a Covid-19 vaccine.

Gold prices edged higher as concerns over the economic fallout from surging Covid-19 cases outweighed positive vaccine news.

In corporate news, Burberry said revenue would be affected by fewer markdowns as the luxury brand reported a 75% drop in first-half profit driven by the Covid-19 crisis. Adjusted operating profit for the six months to 26 September fell to £51m from £203m a year earlier as revenue declined to £878m from £1.28bn.

Markets

At 08:25

FTSE 100 6,327 (-0.86%)

FTSE 250 19,238 (-0.53%)

DAX 13,085 (-0.99%)

At the close

Dow Jones 29,397 (-0.08%)

S&P 500 3,572 +0.77%

NASDAQ 11,786 +2.01%

Fixed Income

UK 10-YR YIELD 0.401

Exchange Rates

GBP/USD 1.318

GBP/EUR 1.118

Commodities

Gold $1,865 +0.06%

Brent $44.00 +0.69%

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.