Monday,22 May 2023 16:54:14

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Monday,22 May 2023 at 15:56

UK and European stock markets were choppy, with investors keeping an eye on debt ceiling talks in the United States and the results of the Greek election.

The dollar rose as investors waited on fresh signals on whether the U.S. Federal Reserve is likely to continue hiking interest rates.

Oil prices were steady as caution relating to U.S. debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and OPEC+ producers.

Gold prices inched lower as hawkish comments from a couple of U.S. Federal Reserve officials on Monday weighed on non-yielding bullion’s allure.

Shares in gold producer Polymetal tanked after the US placed its Russian operations on a sanctions list in retaliation for Moscow's invasion of Ukraine, although the company stressed the measures did not impact assets outside Russia.

The new sanctions from the Biden administration hit Polymetal’s Russian Subsidiary, JSC Polymetal - which is now on the US Specially Designated Nationals and Blocked Persons List. Shares in Polymetal fell 18% in London on the news.

Markets

At the close

FTSE 100 7,770 +0.18%

FTSE 250 19,273 (-0.08%)

DAX 16,227 (-0.29%)

At 16:45

Dow Jones 33,356 (-0.21%)

S&P 500 4,197 +0.14%

NASDAQ 12,718 +0.48%

Fixed Income

UK 10-YR YIELD 4.068

Exchange Rates

GBP/USD 1.241

GBP/EUR 1.149

Commodities

Gold $1,971 (-0.31%)

Brent $75.85 +0.01%

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.