Tuesday,13 February 2024 08:36:39

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Tuesday,13 February 2024 at 08:36

UK & European markets opened cautiously as investors assess incoming corporate earnings reports and a key U.S. inflation print.

Japan’s Nikkei 225 briefly crossed the 38,000 mark for the first time since the asset bubble burst in 1990 as it rallied about 3% and pushed 34-year highs.

Gold prices were little changed as investors held back from making big bets ahead of a U.S. inflation report that could give fresh perspective on the timing of the Federal Reserve’s first rate cut.

Oil prices rose slightly on fears Middle East tensions could disrupt supply, but uncertainty about the pace of potential U.S. interest rate cuts and the ensuing impact on fuel demand capped gains.

In corporate news, The Renewables Infrastructure Group has bought Fig Power, an energy projects developer based in Bristol, for an outlay of £20m over the next two years.

Fig Power has a 1.7GW development pipeline in the UK, including nine more advanced projects of around 400MW with grid offers ranging from 2025 to 2033 and a further 1.3GW of exclusive sites, TRIG said.

Markets

At 08:15

FTSE 100 7,558 (-0.20%)

FTSE 250 19,141 (-0.33%)

DAX 16,983 (-0.30%)

At the close

Dow Jones 38,797 +0.33%

S&P 500 5,021 (-0.09%)

NASDAQ 15,942 (-0.30%)

Fixed Income

UK 10-YR YIELD 4.103

Exchange Rates

GBP/USD 1.264

GBP/EUR 1.174

Commodities

Gold $2,024 +0.26%

Brent $82.22 +0.24%

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.