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Wednesday,20 January 2021 at 08:33

U.K. and European stocks opened mixed ahead of the inauguration of President-elect Joe Biden. 

Stocks in major Asia-Pacific markets were mostly higher with Hong Kong-listed shares of Chinese tech juggernaut Alibaba surging following the reappearance of founder Jack Ma. 

Oil prices were higher on expectations the incoming U.S. administration will go ahead with massive stimulus spending that would boost fuel demand and draw down crude stocks. 

Gold prices were higher as expectations for a massive U.S. stimulus to help the world’s largest economy recover from the coronavirus jolt bolstered bullion’s appeal as an inflation hedge. 

In corporate news, Pearson said fourth-quarter underlying sales grew and that it expects to report sales and profit in line with views despite an additional hit from the coronavirus pandemic at the end of 2020. 

Burberry sales fell in the third quarter as the impact of Covid-19 and fewer price cuts offset strong sales of full-price items.

At 08:22
FTSE 100 6,703 (-0.13%)
FTSE 250 20,676 +0.36%
DAX 13,846 +0.23%
At the close
Dow Jones 30,930 +0.38%
S&P 500 3,798 +0.81%
NASDAQ 13,197 +1.53%
Fixed Income
UK 10-YR YIELD 0.291
Exchange Rates
GBP/USD 1.367
GBP/EUR 1.124
Gold $1,855 +0.86%
Brent $56.34 +0.72%
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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