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Friday,16 September 2022 at 07:40

UK & European markets opened lower amid recession warnings, expectations for further rate hikes and continued volatility in the energy market.

Shares in the Asia-Pacific fell as investors digest U.S. economic data and China’s industrial production and retail sales figures for August.

Oil prices dipped in early trade, extending the week’s losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand.

Gold prices languished near a 28-month low as prospects of aggressive rate hikes by the U.S. Federal Reserve lifted bond yields and took the shine off bullion.

In corporate news, Business process outsourcing firm Capita has agreed to sell its Pay360 division to Access PaySuite in a deal that values the division at £150.0m.

Capita said on Friday that the disposal of Pay360 was on a cash-free, debt-free basis, representing a 14.3x multiple on the business' 2021 underlying earnings of £10.5m. 

Markets
At 08:30
FTSE 100 7,245 (-0.49%)
FTSE 250 18,768 (-0.63%)
DAX 12,774 (-1.42%)
At the close
Dow Jones 30,961 (-0.56%)
S&P 500 3,901 (-1.13%)
NASDAQ 11,552 (-1.43%)
Fixed Income
UK 10-YR YIELD 3.138
Exchange Rates
GBP/USD 1.141
GBP/EUR 1.143
Commodities
Gold $1,661 (-0.12%)
Brent $91.48 +0.92%
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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