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Monday,01 August 2022 at 15:55

Educational publisher Pearson led today’s risers after the company lifted its dividend and interim profits jumped.
 
The firm reported a pretax profit of £179m for the six months to June 30, from £4m a year earlier, when it booked £85m in restructuring costs a year earlier. Revenue rose 12% year-on-year to £1.79bn and the dividend rose 4.8% to 6.6p a share.
 
UK & European stocks closed slightly lower to begin the new month, with investors digesting a fresh round of corporate earnings.
 
The U.S. dollar sank to its lowest in more than six weeks versus the Japanese yen as investors ramped up bets that aggressive Federal Reserve monetary policy would tip the economy into a recession.
 
Oil prices dropped sharply as weak manufacturing data from China and Europe weighed on the demand outlook while investors braced for this week’s meeting of officials from OPEC and other top crude producers on supply.
 
Gold climbed, buoyed by a softer dollar, while investors strapped in for more economic readings that could determine the future pace of interest rate hikes

Markets
the close
FTSE 100 7,413 (-0.13%)
FTSE 250 20,079 (-0.42%)
DAX 13,504 +0.15%
16:55
Dow Jones 32,938 +0.28%
S&P 500 4,139 +0.23%
NASDAQ 12,464 +0.59%
Fixed Income
UK 10-YR YIELD 1.801
Exchange Rates
GBP/USD 1.227
GBP/EUR 1.194
Commodities
Gold $1,769 +0.19%
Brent $99.57 (-7.50%)
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.

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