Friday,22 March 2024 16:46:50

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Friday,22 March 2024 at 16:45

UK and European markets were mixed after some stock markets hit an all-time high in the previous session.

The dollar headed for a second week of gains, with a slight rate hike in Japan unable to halt its rise and a surprise cut in Switzerland highlighting the gap in interest rate policy between the Federal Reserve and other central banks.

Oil prices were little changed with global benchmark Brent hovering above $85 per barrel, as the possibility of a ceasefire in Gaza gained traction.

Gold prices slipped as the dollar firmed, but was set for a weekly gain after the U.S. Federal Reserve said it expected three rate cuts in 2024.

US activist investor Elliott Management has taken a 5% stake in Scottish Mortgage Investment Trust.

In a release after the close on Thursday, the Delaware-based firm disclosed that it has bought 6.5m shares in Scottish Mortgage.

Dan Coatsworth, investment analyst at AJ Bell, said: "Only days since it abandoned efforts to buy UK electricals retailer Currys, activist Elliott Investment has appeared on the shareholder register of one of the most popular investment trusts among UK investors.

Markets

At the close

FTSE 100 7,930 +0.61%

FTSE 250 19,724 (-0.09%)

DAX 18,212 +0.18%

At 16:40

Dow Jones 39,580 (-0.51%)

S&P 500 5,234 (-0.14%)

NASDAQ 16,408 +0.04%

Fixed Income

UK 10-YR YIELD 4.034

Exchange Rates

GBP/USD 1.259

GBP/EUR 1.165

Commodities

Gold $2,164 (-0.71%)

Brent $85.45 +0.36%

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.