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Monday,22 May 2023 at 07:48

UK and European markets saw a cautious open with investors keeping an eye on debt ceiling talks in the United States.

Asia-Pacific markets mostly rose as stocks in Tokyo extended its rally and talks on the U.S. debt ceiling were slated to resume.

Gold prices edged up as drawn-out discussions around the U.S. debt ceiling and Federal Reserve Chair Jerome Powell’s less-hawkish comments added to the safe-haven bullion’s appeal.

Oil prices rebounded from losses of more than 1% the previous day as investors turned cautiously optimistic over the fading risk of a U.S. debt default.

In corporate news, the UK government has cut its stake in NatWest Group to 38.6% via £1.26bn off-market buyback deal.

NatWest will buy 469,200,081 shares at 268.4 pence each, the closing price on May 19. The government previously held 41.4% in the bank.

At 08:30
FTSE 100 7,778 +0.27%
FTSE 250 19,302 +0.07%
DAX 16,239 (-0.22%)
At the close
Dow Jones 33,426 (-0.33%)
S&P 500 4,191 (-0.14%)
NASDAQ 12,657 (-0.24%)
Fixed Income
UK 10-YR YIELD 3.975
Exchange Rates
GBP/USD 1.243
GBP/EUR 1.150
Gold $1,976 (-0.07%)
Brent $75.28 (-0.74%)
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.

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