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Friday,22 January 2021 at 17:09

UK and European markets pulled back as investors monitored coronavirus restrictions and new economic data out of the euro zone.

The dollar edged slightly higher as bleak economic data gave global equity markets reason to pause.

Oil prices dropped, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s biggest oil importer.

Gold prices fell as U.S. Treasury yields and the dollar held firm, although expectations of a big U.S. fiscal stimulus kept bullion on course for its first weekly gain in three.

In corporate news, Next was under the cosh after saying it has dropped out of the running to bid for Arcadia’s Topshop over price. The company said in a statement: "Next plc announces that it has withdrawn from the process to acquire any, or all, of the Arcadia Group from the administrator, as our consortium has been unable to meet the price expectations of the vendor." It also confirmed that it had been bidding as part of a joint venture with US investment firm Davidson Kempner.

Markets
At the close
FTSE 100 6,695 (-0.30%)
FTSE 250 20,596 (-0.95%)
DAX 13,873 (-0.24%)
At 17:00
Dow Jones 31,036 (-0.45%)
S&P 500 3,843 (-0.24%)
NASDAQ 13,510 (-0.15%)
Fixed Income
UK 10-YR YIELD 0.312
Exchange Rates
GBP/USD 1.368
GBP/EUR 1.123
Commodities
Gold $1,855 (-0.78%)
Brent $55.54 (-1.12%)
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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