Tuesday,19 March 2024 16:54:18

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Tuesday,19 March 2024 at 16:53

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

The Japanese yen tumbled after the central bank made the momentous, but widely anticipated, decision to end its negative interest rate policy.

Oil prices hit four-month highs but gains were capped by the prospect of rising exports from Russia as Ukrainian attacks on oil infrastructure curb domestic refining activity.

Gold held steady as investors stayed on the sidelines ahead of the U.S. Federal Reserve policy meeting this week.

Merchant banking group Close Brothers saw shares surge on Tuesday after it announced a raft of measures – including the suspension of dividends – to strengthen its capital position as it prepares for the conclusion of a regulatory probe into motor finance.

The probe centres around so-called discretionary commission arrangements or DCAs, through which lenders allowed motor dealers to use their discretion to land on interest rates within a certain range, leading to claims that consumers had been over-charged for car loans between 2007 and 2021.

Markets

At the close

FTSE 100 7,738 +0.20%

FTSE 250 19,432 (-0.28%)

DAX 17,988 +0.31%

At 16:48

Dow Jones 39,053 +0.68%

S&P 500 5,163 +0.28%

NASDAQ 16,115 +0.07%

Fixed Income

UK 10-YR YIELD 4.172

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.171

Commodities

Gold $2,154 (-0.27%)

Brent $87.29 +1.11%

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.