Wednesday,20 March 2024 08:49:41

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.

Wednesday,20 March 2024 at 08:48

UK and European markets opened lower as investors await the latest monetary policy decision from the U.S. Federal Reserve.

Asia-Pacific markets rose as investors digested the Bank of Japan’s landmark shift in monetary policy.

Gold prices were stuck in a tight range as traders prepared for a key policy decision from the U.S. Federal Reserve and remarks from Fed Chair Jerome Powell later in the day, which could shed more light on prospects of rate cuts this year.

Oil prices edged lower in early Asian trading, as a stronger dollar curbed investor appetite while traders took some money off the table after benchmarks rallied to multi-month highs in each of the past two sessions.

In corporate news, Johnson Matthey said it was selling its medical device components business to Montagu Private Equity for $700m (£550m).

The business makes parts for medical device manufacturers globally with a focus on precious metal alloys and nitinol. It operates manufacturing sites in the US, Mexico, and Australia.

Johnson Matthey said it had now finished the divestment programme announced in May 2022, bringing aggregate net proceeds from sales to "significantly more" than our target of £300m.

Markets

At 08:15

FTSE 100 7,726 (-0.15%)

FTSE 250 19,432 (-0.00%)

DAX 17,978 (-0.06%)

At the close

Dow Jones 39,910 +0.83%

S&P 500 5,178 +0.56%

NASDAQ 16,166 +0.39%

Fixed Income

UK 10-YR YIELD 4.111

Exchange Rates

GBP/USD 1.270

GBP/EUR 1.169

Commodities

Gold $2,156 (-0.01%)

Brent $86.73 +0.07%

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.