Monday,13 June 2022 18:24:17

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Monday,13 June 2022 at 17:37

Lloyds Bank will give staff a £1,000 bonus this summer to help with the increasing cost of living.

The lender will make the extra money available in August, with executives and senior managers exempt.

It is understood that 99.5% of the workforce will benefit from the one-off payment.

UK & European stocks closed sharply lower as investor sentiment was dominated by the prospect of forthcoming interest rate hikes.

U.S. stocks traded lower with traders betting a fresh decades-high print on inflation will force the Federal Reserve to get even more aggressive than previously anticipated to help ease rising prices.

Oil dropped as a flare-up in Covid-19 cases in Beijing dented hopes of a Chinese demand rebound.

Gold fell after the dollar strengthened and Treasury yields rose as data showing surging inflation in the U.S. fuelled bets for steeper rate hikes

Markets

At the close

FTSE 100 7,205 (-1.53%)

FTSE 250 19,160 (-2.61%)

DAX 13,427 (-2.43%)

At 18:05

Dow Jones 30,800 (-1.99%)

S&P 500 3,797 (-2.66%)

NASDAQ 10,975 (-3.22%)

Fixed Income

UK 10-YR YIELD 2.529

Exchange Rates

GBP/USD 1.217

GBP/EUR 1.166

Commodities

Gold $1,829 (-2.27%)

Brent $123.19 +0.31%

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.