Monday,28 November 2022 17:17:50

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Monday,28 November 2022 at 17:18

Riots at a key iPhone factory in China could leave Apple short of up to six million premium handsets in the vital runup to Christmas, according to concerned bosses.

Increasingly violent unrest among workers at Apple supplier Foxconn’s factory in Zhengzhou will slow production of the iPhone 14 Pro.

Zhengzhou is the only location making the iPhone 14 Pro and experts have warned Apple could see shipments reduce by 10pc ahead of the Christmas holidays.

UK & European markets closed lower as investors monitored unrest in China as protests against strict Covid measures and lockdowns erupted over the weekend.

U.S. stocks descended as unrest in China over the nation's restrictive COVID controls weighed on global sentiment.

Oil prices slid, falling close to their lowest level this year.

Gold priced lower.

Markets

At the close

FTSE 100 7,474 (-0.17%)

FTSE 250 19,292 (-1.30%)

DAX 14,383 (-1.09%)

At 17:15

Dow Jones 34,108 (-0.69%)

S&P 500 3,994 (-0.78%)

NASDAQ 11,147 (-0.70%)

Fixed Income

UK 10-YR YIELD 3.127

Exchange Rates

GBP/USD 1.202

GBP/EUR 1.158

Commodities

Gold $1,743 (-0.64%)

Brent $83.99 +0.28%

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.