Tuesday,02 April 2024 16:56:43

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Tuesday,02 April 2024 at 15:55

UK and European stocks shifted lower as major markets returned to action after the Easter weekend and investors looked ahead to the start of a new trading quarter.

The U.S. dollar was down after earlier hitting its highest in almost five months, following a new report that showed U.S. job openings held steady at higher levels in February.

Oil prices gained, underpinned by signs of improved demand and escalating Middle East tensions.

Gold scaled yet another record peak as traders snapped up the safe haven asset amid growing Middle East tensions, largely ignoring a stronger dollar and tempered bets for U.S. rate cuts.

Tesla posted its first annual drop in sales since the first year of the pandemic, as increased electric vehicle competition from Chinese and Western automakers ate into demand.

Tesla has responded to increased competition by cutting prices. Although Tesla is more profitable than traditional automakers, the price cuts have been squeezing the profit margins that helped boost the stock.

Markets

At the close

FTSE 100 7,935 (-0.22%)

FTSE 250 19,713 (-0.86%)

DAX 18,290 (-1.09%)

At 16:50

Dow Jones 39,153 (-1.04%)

S&P 500 5,197 (-0.88%)

NASDAQ 16,200 (-1.20%)

Fixed Income

UK 10-YR YIELD 4.091

Exchange Rates

GBP/USD 1.257

GBP/EUR 1.167

Commodities

Gold $2,258 +0.36%

Brent $88.60 +1.10%

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.