Thursday,17 November 2022 17:09:44

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.

Thursday,17 November 2022 at 17:11

The imposition of road tax on previously exempt electric vehicles will drive motorists away from buying zero-emission cars before a ban on the sale of petrol and diesel vehicles by 2030, according to industry experts.

Electric vehicles will no longer be exempt from vehicle excise duty from April 2025, Jeremy Hunt announced in what he called a policy decision to make motoring taxes fairer.

He cited data from the Office for Budget Responsibility, which forecast that half of all new vehicle sales would be electric by 2025.

UK and European markets fell for a second straight day as investors focused on geopolitics and a big budget announcement in the U.K.

U.S. stocks faltered as optimism around easing inflation and a Federal Reserve policy shift waned.

Oil prices fell as concerns over geopolitical tensions eased and rising numbers of Covid-19 cases in China added to demand worries in the world’s largest crude importer.

Gold priced lower.

Markets

At the close

FTSE 100 7,346 (-0.06%)

FTSE 250 19,122 +0.05%

DAX 14,266 +0.23%

At 17:00

Dow Jones 33,391 (-0.49%)

S&P 500 3,921 (-0.92%)

NASDAQ 11,092 (-0.81%)

Fixed Income

UK 10-YR YIELD 3.201

Exchange Rates

GBP/USD 1.182

GBP/EUR 1.142

Commodities

Gold $1,758 (-0.78%)

Brent $90.01 (-2.78%)

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.