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Monday,18 September 2023 at 07:21

UK & Europe opened the new week on the back foot as investors exercised caution after some big gains over previous sessions.

Asia-Pacific markets slipped as investors look ahead to a week of central bank decisions.

Oil prices inched higher, buoyed by forecasts of a widening supply deficit in the fourth quarter after Saudi Arabia and Russia extended cuts and on optimism of a demand recovery in China, the world’s top crude importer.

Gold prices edged higher as investors priced in a pause in interest rate hikes by the Federal Reserve at its policy meeting this week, with a focus on the U.S. central bank’s rate outlook.

In company news, paper and packaging group Mondi said it had sold its last remaining facility in Russia to Sezar Invest for 80bn roubles (€775m). Both the Russian Federation’s Federal Anti-Monopoly Service and Government Sub-Commission for the Control of Foreign Investments have approved the sale, Mondi said in a statement on Monday. Western companies have exited Russia after sanctions were imposed in response to Moscow's unprovoked invasion on neighbouring Ukraine. 

FTSE 100 7,704 (-0.09%)
FTSE 250 18,760 (-0.16%)
DAX 15,857 (-0.23%)
the close
Dow Jones 34,618 (-0.83%)
S&P 500 4,450 (-1.22%)
NASDAQ 13,708 (-1.56%)
Fixed Income
UK 10-YR YIELD 4.389
Exchange Rates
GBP/USD 1.238
GBP/EUR 1.61
Gold $1,928 +0.25%
Brent $94.60 +0.42%
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.

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