Thursday,18 April 2024 16:59:36

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Thursday,18 April 2024 at 15:58

UK and European markets closed slightly higher, after bouncing around throughout the day, as speculation about the first interest rate cut by the European Central Bank continues.

The dollar drifted higher as a mixed batch of U.S. data did little to shake views that the economy is still on solid ground.

Oil prices rose, slightly paring the previous session’s losses after the United States said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran.

Safe-haven gold gained as persistent tensions in the Middle East added to the metal’s appeal despite robust economic data from the U.S. that raised prospects of fewer interest rate cuts.

Norway's sovereign wealth fund said it would vote in favour of a proposal letting UK bank NatWest buy back more of its stock from the British government.

NatWest is asking investors to support a resolution at its annual meeting on April 23 to buy up to 15% of its total stock from the government over a 12-month period, up from a previous ceiling of 5%.

Markets

At the close

FTSE 100 7,877 +0.37%

FTSE 250 19,450 +0.57%

DAX 17,850 +0.45%

At 16:55

Dow Jones 38,005 +0.67%

S&P 500 5,045 +0.47%

NASDAQ 15,752 +0.44%

Fixed Income

UK 10-YR YIELD 4.284

Exchange Rates

GBP/USD 1.246

GBP/EUR 1.169

Commodities

Gold $2,382 +0.94%

Brent $86.86 (-0.09%)

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.