Tuesday,10 May 2022 08:10:29

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Tuesday,10 May 2022 at 07:17

UK & European stocks opened mixed amid a global market sell-off, prompted mainly by concerns over inflation and rising interest rates — and the potential for a global recession.

Asia-Pacific markets fell after heavy losses overnight on Wall Street that saw the tech-heavy Nasdaq Composite dropping more than 4%.

Oil prices tumbled, extending the previous day’s steep declines as coronavirus lockdowns in top oil importer China, a strong dollar and growing recession risks fed worries about the outlook for global demand.

Gold prices edged higher as a decline in U.S. Treasury yields countered pressure on greenback-priced bullion from sustained strength in the dollar.

In corporate news, precision instrument maker Spectris said it had bought US firm Dytran Instruments for $82m (£66m).

Based in California, Dytran designs and makes accelerometers and sensors for measuring dynamic force, pressure, and vibration for the space, aerospace, industrial and automotive industries.

Markets

At 08:15

FTSE 100 7,266 +0.69%

FTSE 250 19,467 +0.83%

DAX 13,550 +1.25%

At the close

Dow Jones 32,245 (-1.99%)

S&P 500 3,991 (-3.20%)

NASDAQ 11,623 (-4.29%)

Fixed Income

UK 10-YR YIELD 1.959

Exchange Rates

GBP/USD 1.233

GBP/EUR 1.168

Commodities

Gold $1,861 +0.43%

Brent $105.60 +0.73%

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.