Wednesday,28 February 2024 09:02:48

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Wednesday,28 February 2024 at 09:01

UK and European stocks opened slightly lower, continuing cautious sentiment seen this week.

Asia-Pacific stock markets mostly fell, as New Zealand’s central bank kept its interest rate steady, while Hong Kong scrapped rules to tighten its property market at its budget announcement.

Gold prices were slightly lower with key inflation reading and comments from Federal Reserve officials on investors’ radar this week.

Oil prices priced lower.

In corporate news, housebuilder Taylor Wimpey said 2023 profits almost halved as higher mortgage rates hit demand, but added that current trading was showing "some encouraging signs of improvement with reduced mortgage rates positively impacting affordability".

Pre-tax profits fell 42.8% to £473.8m. Group completions, including joint ventures, came in at 10,848 from 14,154 in 2022.

Markets

At 08:15

FTSE 100 7,666 (-0.21%)

FTSE 250 19,078 (-0.45%)

DAX 17,567 +0.40%

At the close

Dow Jones 38,972 (-0.25%)

S&P 500 5,078 +0.17%

NASDAQ 16,035 +0.37%

Fixed Income

UK 10-YR YIELD 4.104

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.168

Commodities

Gold $2,027 (-0.12%)

Brent $81.79 (-0.49%)

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.