Burberry climbs 5% on positive trading statement

<p>Good morning and welcome to the City Index market update for Wednesday, April 17, with me Warren Ruhomon. In Asia the Nikkei is up around […]</p>

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Good morning and welcome to the City Index market update for Wednesday, April 17, with me Warren Ruhomon.

In Asia the Nikkei is up around 1% from the day’s trading so far, at 13,382.

In Europe the FTSE has started the day with a decline of just over 0.5% at 6,304. The CAC 40 and German DAX are also in decline, currently trading at 3,685 and 7,682 respectively. Over in the US, the Dow Jones closed yesterday at 14,756.

Taking a glance at the big gainers and losers from this morning, Burberry are leading the way, up 5% off the back of positive news of an increase in second-half comparable sales, whilst insurance firm Resolution Limited are showing the biggest drop from today’s trading so far, with shares down just over 5%.

With a quick look at commodities, gold is trading up at around $1,382, silver is currently at $23.47, and brent crude oil is trading just under the $100 level at $99.4 a barrel.

Focusing on the major forex pairs, EUR/USD has shown some recent gains at 1.3182, GBP/USD is at 1.5348 and GBP/EUR is around 1.1637.

The recent widescale sale of gold funds in favour of equities has been at its fastest pace in two years, compounding a slump that has wiped $560 billion from the value of central bank reserves.

Exchange-traded products linked to gold have dropped $37.2 billion so far this year, as the metal reached a two-year low yesterday.

This has been your City Index Market update for Wednesday, April 17, with me, Warren Ruhomon.

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