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Wednesday,27 May 2020 at 15:58
UK and European stocks closed higher, following the unveiling of a huge coronavirus recovery package from the EU.
The U.S. dollar edged higher as worries about the U.S. response to China’s proposed security law for Hong Kong injected a more cautious tone into foreign exchange markets.
Oil prices fell after U.S. President Donald Trump said he was working on a strong response to China’s proposed security law in Hong Kong.
Gold dropped to its lowest as hopes of quick economic recovery drove investors towards riskier assets, although U.S.-China tensions over Hong Kong put a floor under bullion prices.
In corporate news, Carnival and Whitbread were in the black amid optimism over the lifting of travel restrictions in countries such as Spain and Germany next month.
M&G rallied as it announced the acquisition of Royal London's digital wealth management platform for independent financial advisers and said it will pay dividends totalling £410m.
At the close
FTSE 100 6,144 +1.26%
FTSE 250 17,143 +1.24%
DAX 11,655 +1.31%
Dow Jones 25,180 +0.74%
S&P 500 2,990 (-0.04%)
NASDAQ 9,221 (-1.27%)
UK 10-YR YIELD 0.19
Gold $1,701 (-0.52%)
Brent $34.50 (-4.22%)
This report has been prepared for private circulation. 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.