Wednesday,13 March 2024 08:46:37

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Wednesday,13 March 2024 at 08:45

UK and European markets opened mixed as investors digested the latest U.S. inflation report.

Asia-Pacific markets were mixed after Wall Street jumped overnight, following U.S. inflation data that largely met expectations.

Gold prices were flat after falling the most in a month in the previous session, as sticky U.S. inflation raised concerns an interest rate cut by the Federal Reserve may be delayed beyond June.

Oil prices rose on expectations of strong global demand, including in the world’s top consumer the United States, and as even somewhat sticky U.S. inflation did not dent expectations the Fed might start cutting rates soon.

In corporate news, Anglo American reported another increase in rough diamond sales at De Beers as prices continue to rebound after slumping in 2023, though the company warned that tough macro conditions will keep a lid on growth for a while.

De Beers saw sales of $430m in its second sales cycle of 2024, up from $374m in the first cycle and $137m in the last cycle of 2023, but down from $497m a year earlier.

Markets

At 08:15

FTSE 100 7,755 +0.10%

FTSE 250 19,635 +0.36%

DAX 17,997 +0.19%

At the close

Dow Jones 39,005 +0.61%

S&P 500 5,175 +1.12%

NASDAQ 16,265 +1.54%

Fixed Income

UK 10-YR YIELD 4.038

Exchange Rates

GBP/USD 1.279

GBP/EUR 1.170

Commodities

Gold $2,159 +0.05%

Brent $82.11 (-0.01%)

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.