Friday,02 February 2024 08:20:14

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Friday,02 February 2024 at 08:20

UK & European stocks jumped at the open following strong gains on Wall Street, as investors eyed the latest US non-farm payrolls report.

South Korea’s Kospi led gains in Asia-Pacific markets, which tracked Wall Street’s rebound from the sell-off earlier this week.

Gold prices were poised for their biggest weekly gain in seven as the dollar and Treasury yields retreated, while traders awaited key U.S. jobs data due later in the day to gauge when the Federal Reserve might commence interest rate cuts.

Oil prices rose in early trade following a decision by OPEC+ to keep its oil output policy unchanged, clawing back some losses from the previous trading session triggered by unsubstantiated ceasefire reports between Israel and Hamas.

In corporate news, Hikma Pharmaceuticals said it has reached an agreement in principle to settle opioid-related claims with US states, local communities and tribal nations.

The settlement, covering cases related to prescription opioid medications, involves a payment of up to $115m in cash and $35m worth of naloxone donations, an opioid overdose-reversal medication.

Markets

08:15

FTSE 100 7,649 +0.35%

FTSE 250 19,331 +1.05%

DAX 16,976 +0.70%

the close

Dow Jones 38,519 +0.97%

S&P 500 4,906 +1.25%

NASDAQ 15,361 +1.30%

Fixed Income

UK 10-YR YIELD 3.796

Exchange Rates

GBP/USD 1.276

GBP/EUR 1.172

Commodities

Gold $2,056 +0.11%

Brent $79.02 +0.28%

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.