Wednesday,06 March 2024 09:42:57

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Wednesday,06 March 2024 at 09:41

UK and European markets opened lower as investors in the U.K. prepare for the 2024 budget statement.

Asia-Pacific markets reversed early declines with Hong Kong stocks leading gains in the region.

Gold prices held above the $2,100 level as hopes for U.S. rates easing by mid-year mount, while traders awaited remarks on the economy’s health from Federal Reserve Chair Jerome Powell.

Oil prices fell slightly as concerns about demand growth in China, the world’s biggest crude importer, clashed with signs of supply tightness amid output cuts by major producers.

In corporate news, Premier Foods rallied as it said that it will benefit from £33m increased free cash flow in the financial year to 29 March 2025 after reaching an agreement with the trustee of its pension scheme to suspend pension deficit contribution payments from 1 April 2024.

Markets

At 09:15

FTSE 100 7,673 +0.35%

FTSE 250 19,400 +0.67%

DAX 17,725 +0.15%

At the close

Dow Jones 38,585 (-1.04%)

S&P 500 5,078 (-1.02%)

NASDAQ 15,939 (-1.65%)

Fixed Income

UK 10-YR YIELD 4.140

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.170

Commodities

Gold $2,126 (-0.06%)

Brent $82.63 +0.95%

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.