Tuesday,12 December 2023 08:50:54

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Tuesday,12 December 2023 at 08:50

UK & European markets headed for a higher open as global investors look ahead to this week’s Federal Reserve policy meeting, which begins today, as well as the latest U.S. inflation reading.

Hong Kong stocks led gains in Asia-Pacific markets ahead of the final U.S. Federal Reserve meeting of the year.

Gold prices gained after hitting a three-week low in the previous session as the dollar eased.

Oil prices held steady ahead of key interest rate policy and inflation data announcements, and amid doubts that production cuts by OPEC+ next year would offset crude oversupply and weaker fuel demand growth.

In corporate news, AstraZeneca said it has agreed to buy Icosavax - a US-based clinical-stage biopharmaceutical company - for up to $1.1bn.

AstraZeneca said the deal will build on its expertise in respiratory syncytial virus (RSV), strengthening its vaccines & immune therapies late-stage pipeline with Icosavax's lead investigational vaccine candidate, IVX-A12.

Markets

At 08:15

FTSE 100 7,577 +0.43%

FTSE 250 18,801 +0.28%

DAX 16,826 +0.20%

At the close

Dow Jones 36,404 +0.43%

S&P 500 4,604 +0.39%

NASDAQ 14,432 +0.20%

Fixed Income

UK 10-YR YIELD 3.978

Exchange Rates

GBP/USD 1.256

GBP/EUR 1.165

Commodities

Gold $1,985 +0.24%

Brent $76.23 +0.25%

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.