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Market Updates and Analysis
As we begin a new year, the global markets are showing mixed signals. The FTSE 100 fell by 0.3% at the closing bell in Europe, while US stocks took a more positive turn, with the S&P 500 rising 0.6%. Despite this divergence, investors remain cautious, awaiting key data releases and updates from major companies.
The FTSE 100's decline was led by mining and oil stocks, including BP, Shell, and Fresnillo, which gained due to hopes of economic growth in China in 2025. However, Germany's DAX fell 0.6% after its jobs report, with Paris's CAC 40 down 1.6%. The pan-European STOXX 600 was also down 0.5%.
Meanwhile, across the Atlantic, the S&P 500 and Dow Jones Industrial Average both showed gains of around 0.4%, while the tech-heavy Nasdaq Composite surged by 1%. Despite these positive trends, however, both the S&P 500 and Dow are on track to end the week with losses of over 1%.
These market movements come against a backdrop of recent data releases, including new figures from the British Retail Consortium showing a 2.2% decline in footfall on UK high streets in December. For the three months ending in December (the "golden quarter"), footfall decreased by 2.5% year-on-year.
According to Helen Dickenson, CEO of the BRC, shopping habits are changing rapidly, with customers increasingly seeking experiential shopping and a variety of cafes, services, and activities on high streets. However, investment in town centers is being held back by outdated business rates systems that penalize these areas.
Stocks to Watch
As we look ahead to the new year, several key companies will be releasing trading updates and earnings reports in the coming weeks. Investors are eagerly awaiting Shell's latest trading update, which will provide insight into how the company is performing as oil demand weakens.
Walgreens Boots Alliance will also release its quarterly earnings report, following recent rumors of a potential private equity buyout deal. In the UK, high street stalwarts Marks & Spencer and Greggs will be releasing Christmas trading updates, providing valuable insights into consumer spending habits and retail performance.
Tesla's Performance
Meanwhile, electric vehicle manufacturer Tesla has seen significant gains in its stock price, reaching an all-time high last year. As the world transitions towards a more sustainable energy future, investors are keen to see how Tesla's innovative products and services will continue to drive growth.
However, concerns have been raised about the company's production costs and competition from other electric vehicle manufacturers. Despite these challenges, Tesla remains one of the most closely watched companies in the tech sector.
Oil and Gold Prices
Oil prices saw a slight dip on Friday morning, with Brent crude falling 0.3% to $72.92 per barrel. This decrease follows a recent surge in oil prices, driven by hopes for a fresh stimulus boost for the energy-hungry Chinese economy and a bigger-than-expected drawdown of oil stocks in the US.
Gold prices were also muted on Friday morning, softening after a strong start to the year this week. The spot price fell 0.2% to $2,652.31 per ounce, while gold futures remained flat at $2,666.90 per ounce.
According to Tim Waterer, chief market analyst at KCM Trade, investors tend to seek safe-haven assets like gold during times of geopolitical and economic uncertainty. Any pullback in the US dollar could prove a catalyst for gold prices to break out higher.
UK Mortgage Borrowing
In other news, UK mortgage borrowing figures showed a £1bn decrease in November, according to data released by the Bank of England. This decrease follows an increase in net borrowing of £1bn in October.
Net mortgage approvals for house purchases fell to 65,700 in November, while approvals for remortgaging decreased to 31,200. The "effective" interest rate on newly drawn mortgages also decreased by 11 basis points to 4.50% in November.
German Jobs Figures
In a separate development, German jobs figures missed expectations, with the unemployment rate rising slightly. This news has had an impact on the DAX index, which is currently trading 0.4% lower.
As we look ahead to the new year, investors will be closely watching these key data releases and company updates for insights into the global economy and investment opportunities.