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Thursday,07 January 2021 at 17:09

UK and European stocks edged higher following a projected win for Democrats in the U.S. Senate and after dramatic scenes last night as rioters stormed the U.S. Capitol building.

The dollar bounced, its gains attributed partly to safe-haven buying after violence on Capitol Hill and profit-taking by investors who had been betting on the euro.

Oil prices rose as Saudi Arabia, unilaterally agreed to cut output over the next two months and as U.S. crude stockpiles fell.

Gold eased on a stronger dollar and higher U.S. Treasury yields, but prospects of more fiscal stimulus under a Democrat-led administration in Washington capped losses.

In corporate news, Sainsbury’s rallied as it lifted profit forecasts after a booming festive period as online orders hit record levels. The company said it now expected to report underlying profit before tax of at least £330m in the year to March 2021 against previous expectations of £270m and compared with £586m a year ago after forgoing business rates relief of £410m.

At the close
FTSE 100 6,856 +0.22%
FTSE 250 21,009 +0.17%
DAX 13,968 +0.55%
At 16:55
Dow Jones 31,124 +0.96%
S&P 500 3,804 +1.50%
NASDAQ 13,044 +2.38%
Fixed Income
UK 10-YR YIELD 0.29
Exchange Rates
GBP/USD 1.355
GBP/EUR 1.104
Gold $1,913 (-0.26%)
Brent $54.40 +0.50%
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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