Tuesday,26 March 2024 17:00:36

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.

Tuesday,26 March 2024 at 17:00

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

The yen was steady after Japan’s finance minister said that he would not rule out any measures to cope with the weakening currency.

Oil was little changed as investors took a more mixed view toward the loss of Russian refinery capacity after recent Ukrainian attacks.

Gold prices rose supported by a weaker dollar as investor focus turns to U.S. inflation data due later this week.

Interim profits at UK housebuilder Bellway dropped by more than a half on the back of a slump in housing completions and a deterioration in margins, but the company pointed to an improving economic outlook as mortgage rates continue to fall back.

The company slashed its dividend for its first half to just 16p per share, down from 45p at the half-year stage a year earlier, but in line with its target of underlying dividend cover of 2.5 times for the full financial year.

Like many other housing developers, Bellway has been hit by the rapid rise in interest rates over the past two years, which has had a big impact on affordability, demand and pricing.

Markets

At the close

FTSE 100 7,930 +0.17%

FTSE 250 19,777 +0.84%

DAX 18,399 +0.76%

At 16:55

Dow Jones 39,412 +0.25%

S&P 500 5,228 +0.21%

NASDAQ 16,428 +0.27%

Fixed Income

UK 10-YR YIELD 3.973

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.166

Commodities

Gold $2,177 +0.29%

Brent $85.96 (-0.19%)

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.