Wednesday,28 February 2024 16:44:23

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Wednesday,28 February 2024 at 16:46

UK and Europe markets closed mixed ahead of key inflation data in both the US and Europe later in the week.

US Markets were slightly weaker after a report showed the US economy expanded at a slightly lower rate at the end of last year. GDP rose at a revised 3.2% annualised pace in the fourth quarter, compared with a prior estimate of 3.3%. .

Oil prices ticked up higher on supply concerns as shipping disruptions continued.

Gold was subdued as it awaited fresh data points which could dictate the timing of future interest rate cuts, which could be positive for the precious metal.

Bitcoin rose to $60,000 for the first time in more than two years, amid surging optimism the demand for the token is widening beyond committed digital-asset enthusiasts.

In the corporate space wealth manager St James’s Place tumbled over 19% after saying it swung to a full-year loss and slashing its dividend, as it set aside £426m for potential client refunds

Markets

the Close

FTSE 100 7,626 (-0.74%)

FTSE 250 19,017 (-0.76%)

DAX 17,593 +0.54%

16:40

Dow Jones 38,910 (-0.16%)

S&P 500 5,074 (-0.08%)

NASDAQ 15,979 (-0.35%)

Fixed Income

UK 10-YR YIELD 4.126

Exchange Rates

GBP/USD 1.265

GBP/EUR 1.168

Commodities

Gold $2,033 +0.17%

Brent $82.05 (-0.19%)

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.