Friday,05 April 2024 08:24:32

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Friday,05 April 2024 at 07:22

UK and European markets opened lower as investors wrap up a lacklustre first trading week of the new quarter.

Japan’s Nikkei 225 led declines in Asia-Pacific markets as comments from U.S. Federal Reserve officials fuelled worries that the central bank could hold off on rate cuts and sent Wall Street lower overnight.

Gold’s five-session record surge, which set the metal on track for its third straight weekly rise, came to a halt as market focus shifted to the U.S. non-farm payrolls data that could offer more clues on the Federal Reserve’s monetary policy trajectory.

Oil prices extended gains and headed for a second weekly gain, supported by geopolitical tensions in Europe and the Middle East, concerns over tightening supply, and optimism about global fuel demand growth as economies improve.

In corporate news, oil and gas titan Shell raised its short-term production forecasts and said it expects an increase in margins as it updated its guidance for the first quarter.

Integrated gas production is now tipped to come it at 960-1,000 thousand barrels of oil equivalents per day (kboe/d), up from February's guidance of 930-990 kboe/d, while the upstream production guidance range has been narrowed to 1,820-1,920 kboe/d from 1,730-1,930 kboe/d previously.

Markets

At 08:30

FTSE 100 7,895 (-1.01%)

FTSE 250 19,703 (-0.86%)

DAX 18,171 (-1.24%)

At the close

Dow Jones 38,596 (-1.35%)

S&P 500 5,147 (-1.23%)

NASDAQ 16,277 (-1.40%)

Fixed Income

UK 10-YR YIELD 4.017

Exchange Rates

GBP/USD 1.262

GBP/EUR 1.165

Commodities

Gold $2,283 (-0.22%)

Brent $91.01 +0.00%

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.