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Wednesday,24 May 2023 at 07:34
UK and European markets opened lower with market
sentiment rattled by stumbling U.S. debt ceiling talks.
Asia-Pacific markets slid with
Hong Kong’s Hang Seng index leading losses and falling 1.2% and the Hang Seng
Tech index shedding 1.32%, dragged by healthcare and industrial stocks.
Gold prices moved in a
narrow range after another round of talks on U.S. debt ceiling
ended with no deal, while investors awaited minutes of the Federal Reserve’s
last policy meeting to gauge the path forward for interest rates.
Oil prices gained
after U.S. oil and fuel supplies tightened and as a warning from the Saudi
energy minister to speculators raised the prospect of further OPEC+ output
In corporate news, retailer Marks
& Spencer delivered a forecast-busting annual profit
driven by a major improvement in its food division and said it would reinstate
a "modest" dividend in November.
Adjusted pre-tax profit came in at £482m, down from £522m last year, but better
than expectations of £431m. The prior year’s figure was also boosted by almost
£60m in business rate relief.
FTSE 100 7,668 (-1.23%)
FTSE 250 18,984 (-1.18%)
DAX 15,995 (-0.96%)
At the close
Dow Jones 33,055 (-0.69%)
S&P 500 4,145 (-1.12%)
NASDAQ 12,560 (-1.26%)
UK 10-YR YIELD 4.311
Gold $1,973 (-0.10%)
Brent $77.32 (-0.37%)
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.