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Tuesday,12 March 2024 at 16:55
UK and European markets closed higher as global investors digested the latest U.S. inflation report.
The U.S. dollar was higher in choppy trading amid data showing hotter-than-expected inflation last month for the world’s largest economy.
Oil prices rose, but price moves were limited as the market waited for monthly reports from oil agencies.
Gold prices remained under pressure, after a hot U.S. inflation report dimmed prospects of the Federal Reserve cutting interest rates soon.
Shares in Persimmon fell after the UK housebuilder warned of continuing tough markets as it reported a worse-than-expected 52% slump in full year profits. The company said pre-tax profit for the year to December plunged to £351.8m, missing estimates of £359.5m.
"Enhanced competition in the mortgage market and wage growth have contributed to improved affordability albeit it continues to be constrained, particularly for first time buyers, and demand for homes remains varied across the country," the company said on Tuesday.
Markets
At the close
FTSE 100 7,747 +1.02%
FTSE 250 19,565 +0.18%
DAX 17,967 +1.24%
At 16:50
Dow Jones 38,918 +0.38%
S&P 500 5,155 +0.74%
NASDAQ 16,182 +1.02%
Fixed Income
UK 10-YR YIELD 4.046
Exchange Rates
GBP/USD 1.278
GBP/EUR 1.170
Commodities
Gold $2,165 (-0.78%)
Brent $82.40 +0.26%
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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