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Wednesday,18 November 2020 at 17:15

UK and European stocks closed higher as investors weigh up positive coronavirus vaccine announcements and the ongoing spread of the virus.

The dollar slipped as positive vaccine news offset the surge in coronavirus cases and tighter economic restrictions across the United States and Europe.

Oil prices firmed as hopes that producer group OPEC and its allies will delay a planned increase in oil output to offset a bigger than expected build in U.S. crude inventories.

Gold traded higher as optimism over Pfizer’s successful vaccine trials countered concerns over rising coronavirus infections and bets for further economic support.

In corporate news, RSA Insurance was the top gainer on the index after it agreed to be bought for £7.2bn by a consortium comprising Intact Corp of Canada and Denmark’s Tryg A/S.

SSE was also up as it reported a fall in adjusted operating profit after taking a £115m hit from the coronavirus pandemic, but maintained its interim dividend payout.

Taylor Wimpey and Persimmon were both higher after official figures showed UK house prices accelerated faster than expectations in September, fuelled by the Chancellor's stamp duty holiday and households looking for more space.

Markets
At the close
FTSE 100 6,385 +0.31%
FTSE 250 19,699 +0.94%
DAX 13,201 +0.52%
At 17:00
Dow Jones 29,867 +0.28%
S&P 500 3,615 +0.16%
NASDAQ 11,912 +0.11%
Fixed Income
UK 10-YR YIELD 0.34
Exchange Rates
GBP/USD 1.329
GBP/EUR 1.120
Commodities
Gold $1,881 +0.19%
Brent $44.66 +2.03%
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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