Thursday,04 April 2024 17:00:48

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Thursday,04 April 2024 at 16:00

UK and European markets were slightly higher as investors look to build momentum following a shaky start to the new trading quarter.

The dollar hit a two-week low as economic data supported expectations for rate cuts in the United States, while the battered yen held steady.

Oil prices rose on concerns of lower supply as major producers are keeping output cuts in place and on signs of stronger economic growth in the U.S., the world’s biggest oil consumer.

Gold prices took a breather after hitting an all-time high earlier in the session on expectations for lower U.S. interest rates this year, as investors await more clarity on the timing of cuts.

Chinese state-owned banks will play a pivotal role in the future of Thames Water as the utility provider remains at loggerheads with lenders in a stand-off over debt at its parent company.

Thames Water parent company Kemble Water Finance has a £190.0m loan which shareholders said they will be unable to repay when it matures on 30 April.

In the case of a default, two Beijing-owned banks will become shareholders of Thames Water amid tensions over Chinese investment in Britain, with the UK moving to restrict Chinese investment in critical infrastructure and forcing telecommunications providers to strip out Huawei equipment from the nation's communications network.

Markets

At the close

FTSE 100 7,975 +0.48%

FTSE 250 19,873 +0.61%

DAX 18,402 +0.19%

At 16:55

Dow Jones 39,292 +0.42%

S&P 500 5,246 +0.66%

NASDAQ 16,422 +0.89%

Fixed Income

UK 10-YR YIELD 4.029

Exchange Rates

GBP/USD 1.266

GBP/EUR 1.165

Commodities

Gold $2,292 (-0.28%)

Brent $89.08 (-0.22%)

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.