Friday,15 March 2024 16:59:43

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Friday,15 March 2024 at 16:59

UK and European markets closed lower as investors remained cautious on the path of inflation ahead of rate decisions by the Bank of England and Federal Reserve next week.

The dollar was on track for a weekly gain versus major currencies while the yen drifted lower on Friday.

Oil prices edged lower as sharp declines in U.S. crude and fuel inventories, drone strikes on Russian refineries and a rise in energy demand forecasts buoyed prices.

Gold prices edged lower over concerns that the Federal Reserve might defer interest rate cuts beyond June after data showed a higher-than-expected rise in inflation.

Reckitt Benckiser tumbled on Friday amid concerns about baby formula compensation.

According to Reuters, an Illinois jury has ordered Reckitt unit Mead Johnson to pay $60m to the mother of a premature baby who died of an intestinal disease after being fed the company's Enfamil baby formula.

The jury in an Illinois state court in St. Clair County on Wednesday found that Mead Johnson was negligent and that it failed to warn of the risk of necrotizing enterocolitis (NEC), Reuters said.

Markets

At the close

FTSE 100 7,727 (-0.20%)

FTSE 250 19,512 +0.14%

DAX 17,936 (-0.03%)

At 16:53

Dow Jones 38,700 (-0.53%)

S&P 500 5,113 (-0.72%)

NASDAQ 16,964 (-1.02%)

Fixed Income

UK 10-YR YIELD 4.201

Exchange Rates

GBP/USD 1.273

GBP/EUR 1.169

Commodities

Gold $2,159 (-0.14%)

Brent $85.41 +0.81%

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.