Tuesday,16 April 2024 16:59:13

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Tuesday,16 April 2024 at 15:58

UK and European markets closed lower as investors followed developments in the Middle East.

The dollar rose, a day after stronger-than-expected U.S. retail sales sent Treasury yields higher.

Oil prices rose amid heightened tensions in the Middle East after Israel’s military chief said his country would respond to Iran’s weekend missile and drone attack.

Gold prices fell, under pressure from high U.S. Treasury yields and as investors locked in profits from a rally that drove the precious metal to a record peak last week.

Dr Martens shares slumped by a third on Tuesday as the UK bootmaker said chief executive Kenny Wilson would step down and issued another profit warning for the current financial year amid continuing woes in its key US market.

Wilson will be replaced by brand officer Ije Nwokorie before the end of the current financial year, Dr Martens said in a statement.

The company issued four profits warnings last year as a tough consumer environment in the US continues to affect sales of its famous boots.

Markets

At the close

FTSE 100 7,820 (-1.82%)

FTSE 250 19,344 (-1.80%)

DAX 17,744 (-1.57%)

At 16:55

Dow Jones 37,838 +0.27%

S&P 500 5,056 (-0.10%)

NASDAQ 15,882 (-0.01%)

Fixed Income

UK 10-YR YIELD 4.303

Exchange Rates

GBP/USD 1.243

GBP/EUR 1.170

Commodities

Gold $2,381 (-0.02%)

Brent $90.06 +0.23%

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.