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Friday,20 November 2020 at 08:40

U.K. and European stocks made a muted start to trading as spiralling coronavirus cases around the world weighed on sentiment. 

Asia-Pacific markets traded mixed as investors remained cautious over the short-term economic impact of the coronavirus as cases around the world continue to rise. 

Oil prices were little changed with demand concerns stemming from surging coronavirus cases and renewed lockdowns in several countries capping gains. 

Gold prices were little changed after U.S. Treasury Secretary Steven Mnuchin called for an end to some of the Federal Reserve’s pandemic lending, sparking uncertainty about stimulus programs that have played a key role in reassuring financial markets. 

In corporate news, Smurfit Kappa has decided to raise funds in order to accelerate its investments and capitalise on the trends towards e-commerce and sustainable packaging for products, having identified between €1.2-1.4bn of investment opportunities to boost the group's competitive advantage. 

Sage Group reported a rise in pretax profit for fiscal 2020 and said it has made good progress in the execution of its subscription-based strategy. Pretax profit for the year ended Sept. 30 was 373 million pounds ($493.7 million) compared with GBP361 million a year before, the FTSE 100 software company said. Organic operating profit margin fell to 22.1%, from 23.8% in fiscal 2019. The company had guided for an organic operating margin of around 22%.

At 08:32
FTSE 100 6,354 +0.31%
FTSE 250 19,472 (-0.18%)
DAX 13,104 +0.14%
At the close
Dow Jones 29,483 +0.15%
S&P 500 3,581 +0.39%
NASDAQ 11,904 +0.87%
Fixed Income
UK 10-YR YIELD 0.317
Exchange Rates
GBP/USD 1.326
GBP/EUR 1.117
Gold $1,867 +0.05%
Brent $44.18 +0.14%
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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