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Thursday,22 September 2022 at 07:28

UK & European stocks opened in negative territory as investors digest another big rate hike from the U.S. Federal Reserve.

Asia Pacific markets traded lower after the U.S. Federal Reserve raised interest rates and signalled further hikes ahead.

Oil rebounded as concerns over tight supplies heading into winter eclipsed fears of a global recession.

Gold prices fell as the U.S. dollar rallied. 

In corporate news, UK pharmaceutical company GSK is taking a stake in Spero Therapeutics as part of a licensing agreement for the US-based drug developer's experimental antibiotic for complicated urinary tract infections.

GSK will pay Spero $66m upfront for the antibiotic tebipenem HBr and buy $9m in Spero shares, the companies said in a joint statement on Thursday. 

Markets
At 08:15
FTSE 100 7,166 (-1.01%)
FTSE 250 18,516 (-1.06%)
DAX 12,548 (-1.01%)
At the close
Dow Jones 30,183 (-1.70%)
S&P 500 3,789 (-1.71%)
NASDAQ 11,220 (-1.79%)
Fixed Income
UK 10-YR YIELD 3.321
Exchange Rates
GBP/USD 1.124
GBP/EUR 1.143
Commodities
Gold $1,659 (-0.82%)
Brent $89.90 (-0.08%)
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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