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Friday,08 January 2021 at 17:08
UK and European markets closed higher as global investors anticipated that a Democratic controlled U.S. government will lead to greater fiscal support.
The dollar pulled back after a dismal December U.S. payrolls report highlighted the need for further stimulus measures to prop up the economy.
Oil prices moved higher supported by Saudi Arabia’s pledge to cut output and a global stocks rally as investors looked beyond rising coronavirus cases.
Gold accelerated its slide as a jump in U.S. Treasury yields hammered bullion’s safe-haven appeal.
In corporate news, Barratt Developments rallied after saying it planned to restart dividends as it reported strong trading in the first half. Forward sales in the six months to the end of December rose 14.3% to 13,588 homes from a year earlier at a value of £3.2bn - up 19.4%.
Rentokil gained after saying that annual results would be slightly better than expectations but warning the outlook was uncertain because of uncertainty over one-off disinfection sales.
At the close
FTSE 100 6,873 +0.24%
FTSE 250 21,064 +0.26%
DAX 14,049 +0.58%
Dow Jones 30,959 (-0.26%)
S&P 500 3,810 +0.17%
NASDAQ 13,150 +0.63%
UK 10-YR YIELD 0.29
Gold $1,856 (-2.99%)
Brent $55.40 +1.61%
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.