Wednesday,21 September 2022 08:35:25

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Wednesday,21 September 2022 at 07:36

UK & European markets opened broadly lower as investors in the region brace themselves for another aggressive interest rate move from the U.S. Federal Reserve.

Shares in Asia-Pacific traded lower following Wall Street’s negative lead.

Oil prices slid, extending the previous day’s losses.

Gold prices lingered near their lowest level since April 2020, as investors prepared for the likelihood of another super-sized interest rate hike.

In corporate news, JD Sports said it had agreed a truce with former CEO Peter Cowgill, including a non-compete and consultancy deal that will see him receive £5.5m in addition to his salary package up to his departure in May and a 12 month notice period.

Cowgill was unceremoniously dumped from the company he helped build into a multi-national leisure and sportswear chain after shareholders raised concerns about his bonuses and reluctance to split the roles of chairman and chief executive.

Markets

At 08:15

FTSE 100 7,210 +0.26%

FTSE 250 18,541 +0.07%

DAX 12,544 (-1.01%)

At the close

Dow Jones 30,706 (-1.01%)

S&P 500 3,855 (-1.01%)

NASDAQ 11,425 (-0.95%)

Fixed Income

UK 10-YR YIELD 3.237

Exchange Rates

GBP/USD 1.134

GBP/EUR 1.144

Commodities

Gold $1,671 +0.55%

Brent $92.99 +2.38%

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.