Rolling coverage of the latest economic and financial news
- Latest: PizzaExpress could close 15% of UK restaurants in rescue deal
- 1,100 jobs at risk
- Oil giant cuts dividend to 5.25 cents per share
- BP posts huge loss after asset writedowns
- Diageo hit by sales slump, but easyJet expands schedule
After a muted session, European stock markets have closed with little drama.
The FTSE 100 finished 3 points higher at 6,036 points, with engineering turnaround firm Melrose the top riser (+9%) and telecoms firm BT gaining 8%.
The past few hours of trading has been muted as there has been little in the way of big macro-economic news to influence sentiment.
The major equity benchmarks of Europe are showing modest gains, while the DAX 30 is underperforming. There were plenty of corporate stories today, but the lack of a deal between Republicans and Democrats in relation to the $1 trillion Covid-19 pandemic package has kept sentiment at bay.
The gold price is jumping again today, heading to new all-time highs.
The spot price of bullion has risen by nearly 1% today to $1,995 per ounce.
Gold is catching fire again on stimulus bets, some dollar weakness, and as risky assets get a boost on improving economic data and improving virus outlook.
Gold is now the favorite safe-haven as Treasury yields continue to slide.