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Tuesday,19 September 2023 at 07:22

UK & European stocks opened flat as investors continue to act cautiously ahead of some pivotal central bank meetings later this week.

Asia-Pacific markets fell across the board as traders parsed minutes from the Reserve Bank of Australia for its policy meeting on Sept. 5 where the bank had said that inflation in the country is still “too high.”

Oil prices rose in early trade for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia.

Gold prices held near two-week highs, with the dollar losing its grip on recent six-month peak, heading into this week’s central bank meetings that kick off with the U.S. Federal Reserve later in the day.

In company news, online grocer and technology company Ocado maintained annual guidance after a 7.2% rise in third-quarter retail revenues. The company, 50% owned by Marks & Spencer, said retail sales came in at £569.6m from £531m a year earlier, with a return to positive volume growth in the last month of the quarter. 

FTSE 100 7,655 +0.04%
FTSE 250 18,454 +0.03%
DAX 15,688 (-0.25%)
the close
Dow Jones 34,624 +0.02%
S&P 500 4,453 +0.07%
NASDAQ 13,710 +0.01%
Fixed Income
UK 10-YR YIELD 4.396
Exchange Rates
GBP/USD 1.237
GBP/EUR 1.159
Gold $1,932 (-0.02%)
Brent $94.90 +0.40%
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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