Wednesday,20 March 2024 16:51:19

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Wednesday,20 March 2024 at 16:50

UK and European markets were mixed as investors awaited the latest monetary policy decision from the U.S. Federal Reserve.

The dollar rose, while stock and bond markets trod water as traders braced for what could be a crucial Federal Reserve meeting later in the day.

Shares in Prudential tanked on Wednesday despite the insurance giant saying it is "increasingly confident" in meeting its long-term targets following a strong 2023, during which new business profits jumped by almost a half.

Results were largely in line or better than expected, though analysts put the negative market reaction down to ongoing concerns surrounding the company's end-markets – namely its exposure to China's struggling real-estate sector.

Luxury brand Burberry was also under the cosh after Kering warned that sales at Gucci were set to slide 20% in the first quarter due to a slowdown in Asia.

Markets

At the close

FTSE 100 7,737 (-0.01%)

FTSE 250 19,484 +0.27%

DAX 18,014 +0.15%

At 16:43

Dow Jones 39,118 +0.02%

S&P 500 5,178 +0.01%

NASDAQ 16,166 +0.01%

Fixed Income

UK 10-YR YIELD 4.125

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.171

Commodities

Gold $2,157 +0.01%

Brent $85.87 (-0.92%)

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.