Monday,18 March 2024 16:55:59

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.

Monday,18 March 2024 at 16:55

UK and European markets had a lacklustre start to the new trading week, as global investors look ahead the U.S. Federal Reserve’s next meeting.

The dollar edged down as traders looked ahead to central bank meetings this week, with the Bank of Japan potentially on the brink of ending negative rates.

Oil prices climbed on lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the U.S.

Gold prices firmed as investors awaited a series of central bank meetings this week, to pick up on clues on inflation and interest rates.

Phoenix Group slumped on Monday after The Times suggested it will report a one-off provision of £70m in its annual results on Friday to cover the cost of reducing customer charges.

According to The Times, it will cover a cut in annual pension charges across old funds, and other customer support measures, to comply with the Financial Conduct Authority’s new consumer duty rules.

Markets

At the close

FTSE 100 7,722 (-0.06%)

FTSE 250 19,486 (-0.14%)

DAX 17,939 +0.01%

At 16:48

Dow Jones 38,865 +0.39%

S&P 500 5,161 +0.87%

NASDAQ 16,150 +1.11%

Fixed Income

UK 10-YR YIELD 4.194

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.170

Commodities

Gold $2,159 +0.16%

Brent $86.42 +1.77%

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.