Wednesday,17 April 2024 08:45:45

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Wednesday,17 April 2024 at 07:43

UK and European stocks were slightly higher despite global markets being rattled by comments from the head of the U.S. Federal Reserve.

Asia-Pacific markets were mixed after Tuesday’s broad sell-off, with traders watching trade data out of Japan and Singapore on Wednesday.

Gold prices were steady after rallying to record highs last week, as safe-haven demand fuelled by geopolitical risks in the Middle East partially offset pressure from higher U.S. dollar and Treasury yields.

Oil prices eased in early trade as worries about global demand due to weak economic momentum in China and fading hopes for U.S. interest rate cuts in the near term outweighed supply fears on heightened tensions in the Middle East.

In corporate news, GSK announced on Wednesday that a phase three trial demonstrated that gepotidacin, a potential first-in-class oral antibiotic, achieved a microbiological success rate of 92.6% in treating uncomplicated urogenital gonorrhoea, showing non-inferiority to the leading combination treatment.

The FTSE 100 pharmaceutical giant said gepotidacin's safety profile was consistent with previous trials, with mild or moderate gastrointestinal adverse events reported.

With gonorrhoea resistance on the rise globally, it said the findings showed gepotidacin as a promising new treatment option amid growing antibiotic resistance.

Markets

At 08:30

FTSE 100 7,820 +0.00%

FTSE 250 19,315 (-0.15%)

DAX 17,803 +0.20%

At the close

Dow Jones 37,798 +0.17%

S&P 500 5,051 (-0.21%)

NASDAQ 15,865 (-0.12%)

Fixed Income

UK 10-YR YIELD 4.322

Exchange Rates

GBP/USD 1.245

GBP/EUR 1.171

Commodities

Gold $2,378 (-0.18%)

Brent $89.47 (-0.15%)

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.