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Tuesday,02 August 2022 at 07:20

UK and European stocks pulled back as investors assess whether last month’s rally has further to run.

Mainland China and Hong Kong markets led losses in Asia as geopolitical tensions rose over U.S. House Speaker Nancy Pelosi’s visit to Taiwan.

Oil prices edged lower as investors worried about global oil demand following weak manufacturing data in several countries.

Gold hit a four-week high as a weaker dollar and a dip in U.S. Treasury yields boosted demand for the safe-haven metal amid mounting worries over an economic slowdown.


In corporate news, BP said its underlying cost replacement profit rose to $8.45bn in the second quarter from $6.25m in the first, coming in well ahead of analysts’ expectations of $6.8bn.


This was driven by strong realised refining margins, a continuing "exceptional" oil trading performance and higher liquids realisations, BP said.

Markets
At 08:15
FTSE 100 7,393 (-0.26%)
FTSE 250 19,930 (-0.74%)
DAX 13,425 (-0.40%)
At the close
Dow Jones 32,798 (-0.14%)
S&P 500 4,118 (-0.28%)
NASDAQ 12,368 (-0.18%)
Fixed Income
UK 10-YR YIELD 1.750
Exchange Rates
GBP/USD 1.220
GBP/EUR 1.192
Commodities
Gold $1,772 +0.10%
Brent $99.35 (-0.56%)
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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