Tuesday,26 March 2024 08:46:48

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Tuesday,26 March 2024 at 08:45

UK and European markets opened lower as investors continue to ponder last week’s central bank policy decisions in Europe and the U.S.

Most Asia-Pacific markets rose, with South Korea’s benchmark Kospi hitting two-year highs as investors digested a fresh batch of economic data.

Gold prices were stuck in a tight range as investor focus turns to U.S. inflation data due later this week, which could shed more light on the timing of the Federal Reserve’s first interest rate cut this year.

Oil prices were on track to gain for a second straight day after settling up more than a dollar on expectations of tighter supply driven by Russian production cuts and attacks on Russian refineries.

In corporate news, engineering group Smiths reaffirmed annual guidance after a rise in half-year earnings and order growth.

The company said operating profit for the six months to January 31 rose 2.7% to £192m. Orders grew 16.5%, although revenue in its general industrial division - its biggest sector - fell 5.5%.

Markets

At 08:15

FTSE 100 7,902 (-0.18%)

FTSE 250 19,578 (-0.18%)

DAX 18,262 (-0.01%)

At the close

Dow Jones 39,313 (-0.41%)

S&P 500 5,218 (-0.31%)

NASDAQ 16,384 (-0.27%)

Fixed Income

UK 10-YR YIELD 3.980

Exchange Rates

GBP/USD 1.265

GBP/EUR 1.166

Commodities

Gold $2,178 +0.35%

Brent $85.89 (-0.27%)

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.