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Market Report

26th June 2017 at 8:30 am

UK and European bourses edged higher shortly after the open, despite Italian authorities announcing plans to wind up two more embattled banks at a cost of up to 17 billion euros ($19 billion).

Markets in Asia traded higher as oil rose over the 10-month low touched last week.

The dollar sagged against its major peers, losing traction as US Treasury yields stayed low amid fading expectations that the Federal Reserve to hike interest rates again later this year.

Oil prices rose more than 1% on a weaker dollar, but another rise in US drilling activity stoked worries that a global supply glut will persist despite an OPEC-led effort to curb output.

Gold prices edged lower as investors remained cautious ahead of a flurry of US data due this week, with firmer Asian stocks also weighing on the market.

On the data front, BBA mortgage approvals are at 0930 BST.

In company news, Amec Foster Wheeler said it has completed the sale of its circulating fluidised bed (CFB) boiler business to Sumitomo Heavy Industries for $170m, which will be used to reduce net debt. The CFB boiler business is the largest part of Amec’s GPG unit. The remaining GPG steam generator businesses include the heat recovery steam generator and industrial boilers businesses and these are also expected to be sold during 2017, Amec said.

Hikma Pharmaceuticals has announced the retirement of Michael Raya, the chief executive officer of the US business, along with organisational changes to the US business and a number of senior leadership changes and appointments.


At 08:21
FTSE 100 7461 +0.50%
FTSE 250 19,760 +0.38%
DAX 12,794 +0.48%

At the close
Dow Jones IA 21,394 (-0.01%)
S&P 500 2,438 +0.16%
NASDAQ 6,265 +0.46%

UK Government Bond
UK 10-YR Yield 1.028 (-0.17%)

Exchange Rates
GBP/USD $1.275
GBP/EUR €1.138

Gold $1,254 (-0.21%)
Brent $46.16 +1.06%