Thursday,14 March 2024 17:00:19

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Thursday,14 March 2024 at 16:59

UK and European markets closed lower as investors assessed another key U.S. inflation reading for February.

The dollar inched higher as investors waited for U.S. economic data later in the day, while bitcoin rose to a record high above $73,800.

Oil extended gains after a surprise drop in U.S. crude stockpiles indicated strengthening demand.

Gold prices rose despite a hot U.S. inflation print, while escalating geopolitical tensions kept bullion’s safe-haven demand intact.

Shares in Vistry surged on Thursday after the UK housebuilder posted a jump in annual profits, unveiled another £100m share buyback and forecast higher completions in 2024 driven by strong demand.

The company on Thursday posted a 23.2% rise in pre-tax profit of £304m for the year to December. Vistry said it was on track to deliver strong growth in completions in 2024, targeting more than 17,500 units compared with 16,118 homes built a year ago. It added there had been a “notable pick-up” in demand from private rental sector providers in recent months.

Markets

At the close

FTSE 100 7,743 (-0.37%)

FTSE 250 19,486 (-0.40%)

DAX 17,942 (-0.11%)

At 16:52

Dow Jones 38,968 (-0.19%)

S&P 500 5,152 (-0.25%)

NASDAQ 16,138 (-0.24%)

Fixed Income

UK 10-YR YIELD 4.191

Exchange Rates

GBP/USD 1.275

GBP/EUR 1.171

Commodities

Gold $2,159 +0.01%

Brent $85.52 +2.33%

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.