Tuesday,27 February 2024 16:54:19

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Tuesday,27 February 2024 at 16:53

UK and Europe markets closed slightly higher, amid shaky global sentiment and ahead of U.S. and European inflation data later in the week.

The dollar was down slightly against the Japanese yen after data showing Japan’s core consumer inflation exceeded forecasts.

Oil prices ticked up extending gains for the third straight day, as shipping disruptions spurred supply worries.

Gold inched higher as the market focus shifted to U.S. inflation data due this week which could influence the timeline of Federal Reserve interest rate cuts.

Fast fashion retailer Shein was said to be looking at switching its proposed $90.0bn initial public offering from New York to London as a result of regulatory hurdles to the listing in the US.

According to Bloomberg, citing people familiar with the matter, Shein, founded in China but headquartered in Singapore since 2022 for regulatory reasons, was in the early stages of exploring its options in London as it deems it unlikely that the Securities and Exchange Commission will approve its US IPO.

Markets

At the close

FTSE 100 7,683 (-0.02%)

FTSE 250 19,163 +0.19%

DAX 17,560 +0.79%

At 16:50

Dow Jones 38,923 (-0.37%)

S&P 500 5,068 (-0.03%)

NASDAQ 16,004 +0.17%

Fixed Income

UK 10-YR YIELD 4.126

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.169

Commodities

Gold $2,034 +0.15%

Brent $82.27 +0.63%

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.