Kier Group, down 2.5%, announced that the Reduction of Capital has now become effective, following approval of the cancellation of its share premium account and the capital redemption reserve by His Majesty's High Court in England.
UK markets ended mostly higher last week, amid optimism that the Bank of England (BoE) would soon announce rate cuts. On the data front, UK’s Nationwide annual housing price index dropped in December, amid higher mortgage rates. The FTSE 100 index advanced 0.5% to settle at 7,697.5, while the FTSE AIM 100 index rose 1.1% to close at 3,662.2. Meanwhile, the FTSE techMARK 100 index marginally fell to end at 6,587.7.
US markets ended higher in the previous week, amid expectations that the US Federal Reserve (Fed) would start rate cuts as early as March 2024. On the macro front, the US Chicago Fed National Activity Index improved in November, while the Dallas Fed manufacturing index climbed in December. Meanwhile, the US pending home sales remained unchanged at a record low in November, while the nation’s housing price index rose less than expected in October. Moreover, the US goods trade deficit widened in November, while the nation’s initial jobless claims rose more than expected in the week ended 22 December 2023. The DJIA index rose 0.8% to end at 37,386.0, while the NASDAQ index gained 0.1% to close at 14,993.0.
