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Thursday,21 January 2021 at 17:14
UK and European stocks closed mixed as traders monitored the European Central Bank’s latest meeting and the beginning of Joe Biden’s presidency.
The euro clung to its gains after the European Central Bank stuck to its monetary policy while expectations of a massive U.S. stimulus package fuelled market optimism.
Oil slipped after industry data showed a surprise build in U.S. crude inventories that reignited pandemic-led demand concerns.
Gold prices were stable as the dollar slipped, with investors awaiting the passage of U.S. President Joe Biden’s proposed $1.9 trillion dollar stimulus package.
In corporate news, Just Eat Takeaway - which has benefited from Covid-19 restrictions and lockdowns - was the top performer after Prime Minister Boris Johnson said it was too early to say whether lockdown will end by summer.
Going the other way, software group Sage was the top gainer on the index after saying it traded in line with expectations in the first quarter as recurring revenue grew strongly. Total revenue rose 1.4% to £447m in the three months to the end of December from a year earlier as recurring revenue increased 4.7% to £408m.
At the close
FTSE 100 6,749 +0.14%
FTSE 250 20,963 +0.39%
DAX 13,906 (-0.11%)
Dow Jones 31,163 (-0.08%)
S&P 500 3,852 +0.01%
NASDAQ 13,513 +0.42%
UK 10-YR YIELD 0.333
Gold $1,863 (-0.31%)
Brent $55.96 +0.54%
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.