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UK and European markets opened
negative to start the new trading week, following declines in the
Asia-Pacific region overnight.
Japan stocks led losses
in Asia-Pacific markets after the country averted a technical recession, paving
the way for its central bank to raise rates, while investors also assessed
China’s inflation numbers.
Gold prices took a
breather from a record-breaking rally which was fuelled by
a cooling U.S. labour market and remarks from the Federal Reserve, with traders
awaiting a U.S. inflation report for fresh clues on the timing of rate cuts.
Oil prices extended
last week’s losses on concern about slow demand in China,
though lingering geopolitical risk surrounding the Middle East and Russia
limited the decline.
In corporate news, US
private equity firm Elliott Advisors has pulled from the race to take
over Currys after
"multiple attempts" to engage with UK electrical retail chain’s
board, all of which were rejected.
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