House prices fall | Frasers reduces Boss stake
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UK house prices fell for the fourth month in a row in December as the cost of living crisis and rising interest rates hit demand for property. Full story here
US data better than expected
Stocks rose after new data pointed to a softening in US jobs and wage growth, suggesting the interest rate strategy is working and could persuade central bankers to adopt a less aggressive strategy. Full story here
10.30am: Nucleus confirms Curtis Banks deal
Nucleus, the Edinburgh-based financial wrap platform, has announced the acquisition of SIPP provider Curtis Banks Group in a recommended cash deal worth £242 million. Full story here
7am: Shell windfall tax
Shell expects to take a hit of about $2billion (£1.7billion) from windfall taxes imposed on the energy sector by the EU and UK.
Europe’s largest oil and gas company also told investors in an update ahead of its full year results on 2 February that its liquefied natural gas production in the quarter will be hit by prolonged outages at two major plants in Australia. Full story here
Frasers Group said its maximum exposure to German fashion house Hugo Boss has fallen to £580 million.
The group, which includes Houser of Fraser, Sports Direct and Evans Cycles, said it holds 3.9% of Hugo Boss stock directly and a further 25% via the sale of derivatives known as put options.
US markets closed lower after a strong ADP jobs report and hawkish comments from Esther George, president and chief executive of the Federal Reserve Bank of Kansas City, who told CNBC that she favoured holding rates above 5% for some time.
At the close the Dow Jones Industrial Average was down 1.02%, the S&P 500 fell 1.16% and the Nasdaq Composite dipped 1.47%.
EU inflation and US non-farm payrolls figures are due later today.