Wednesday,27 March 2024 16:58:36

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Wednesday,27 March 2024 at 16:57

UK and European stocks closed slightly higher, regaining steam after a subdued start to the session.

The yen dropped to its lowest level since 1990, into the zone that triggered intervention by Japanese authorities in 2022.

Oil prices fell on surging U.S. stockpiles and signs that OPEC+ is unlikely to change its output policy at a technical meeting next week.

Gold prices gained as investors awaited U.S. inflation data that could cast further light on the Federal Reserve’s policy path.

An investigation into controversial former Endeavour Mining boss Sébastien de Montessus found two more “deliberately disguised” payments totalling $15m to an unnamed third party, the company said on Wednesday.

De Montessus was sacked in January after allegations he instructed the company to make an irregular and unreported $5.9m payment in relation to an asset disposal.

Endeavour commissioned Linklaters and EY to conduct a full probe and released key findings on Wednesday. The report found de Montessus and "certain others" outside the company instigated two payments worth $15m "deliberately disguising them as advance payments to a contractor through repeated false representations to management".

Markets

At the close

FTSE 100 7,931 +0.01%

FTSE 250 19,810 +0.17%

DAX 18,475 +0.49%

At 16:55

Dow Jones 39,523 +0.61%

S&P 500 5,221 +0.35%

NASDAQ 16,336 +0.13%

Fixed Income

UK 10-YR YIELD 3.931

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.166

Commodities

Gold $2,191 +0.63%

Brent $85.16 (-0.11%)

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.