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Monday,16 November 2020 at 08:44

U.K. and European stocks opened higher as the fallout of the U.S. election in early November and the coronavirus pandemic remain in focus for global markets. 


Asia markets traded higher after 15 economies in the region signed a deal that formed the world’s largest trade alliance. Technology and auto stocks soared. 

Oil was higher on hopes that OPEC will hold current output curbs offset concerns about weaker fuel demand due to rising Covid-19 cases and higher production from Libya. 

Gold traded higher while mounting U.S. coronavirus cases fuelled concerns over the pandemic’s impact on economic recovery, underpinning hopes of further monetary stimulus. 

In corporate news, Vodafone announced an unchanged interim dividend as the company forecast a drop of up to 3.2% in annual earnings. The company kept its dividend at 4.5 cents a share as it posted a $1.6bn (£1.4bn) net profit compared with a €1.9bn loss a year earlier. Adjusted earnings before interest, tax, depreciation and amortisation (Ebitda) fell 1.9% to €7bn. 

IT provider Kainos doubled half-year profits and lifted its dividend driven by a strong rise in revenue at its healthcare unit which has been helping the NHS with its Covid-19 test and trace programme.

Markets
At 08:20
FTSE 100 6,357 +0.66%
FTSE 250 19,423 +0.80%
DAX 13,159 +0.63%
At the close
Dow Jones 29,479 +1.37%
S&P 500 3,585 +1.36%
NASDAQ 11,829 +1.02%
Fixed Income
UK 10-YR YIELD 0.329
Exchange Rates
GBP/USD 1.323
GBP/EUR 1.115
Commodities
Gold $1,893 +0.65%
Brent $43.74 +1.16%
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.
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