Tuesday,19 March 2024 08:38:36

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Tuesday,19 March 2024 at 08:37

UK and European markets opened lower as global investors look ahead to the start of the U.S. Federal Reserve’s two-day policy meeting.

Japan’s Nikkei 225 index ended above 40,000 after the country’s central bank raised interest rates for the first time since 2007.

Gold held steady as investors stayed on the side lines ahead of the U.S. Federal Reserve policy meeting this week, which could offer further clues on the timing of likely interest rate cuts this year.

Oil prices edged down after gaining in the previous trading session, due in part to the prospect of rising supply from Russia as well as the possibility of slower-than-expected downstream demand in sectors such as jet fuel.

In corporate news, AstraZeneca said it had agreed to buy biopharmaceutical company Fusion Pharmaceuticals for up to $2bn.

Fusion specialises in radioconjugates, which combine the precise targeting of antibodies, small molecules or peptides with potent medical radioisotopes to deliver radiation directly to cancer cells.

AstraZeneca will acquire all of Fusion's outstanding shares for $21 each in cash at closing plus a non-transferable contingent value right of $3 per share.

Markets

At 08:15

FTSE 100 7,726 +0.05%

FTSE 250 19,473 (-0.07%)

DAX 17,942 +0.06%

At the close

Dow Jones 38,790 +0.20%

S&P 500 5,149 +0.63%

NASDAQ 16,103 +0.82%

Fixed Income

UK 10-YR YIELD 4.177

Exchange Rates

GBP/USD 1.268

GBP/EUR 1.169

Commodities

Gold $2,150 (-0.44%)

Brent $86.67 +0.38%

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.