Wednesday,01 May 2024 17:00:58

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Wednesday,01 May 2024 at 15:59

UK markets closed lower, extending earlier losses, while most European markets were closed for the May Day/Labor Day public holiday.

Oil prices fell on rising crude inventories and production in the U.S., the world’s biggest oil consumer, along with increasing hopes of a ceasefire agreement in the Middle East.

Gold prices edged higher, climbing back from its four-week low ahead of a U.S. Federal Reserve policy decision that could shed more light on the central bank’s rate trajectory following hot U.S. economic data in the recent weeks.

UK fashion retailer Next said first-quarter sales came in ahead of forecasts and held guidance for the full year but warned that the next three months would be weaker due to wet spring weather.

Next still expects annual profit before tax to increase by 4.6% to £960m.

Markets

At the close

FTSE 100 8,121 (-0.28%)

FTSE 250 19,926 (-0.19%)

DAX 17,932 (-1.03%)

At 16:55

Dow Jones 37,922 +0.28%

S&P 500 5,023 (-0.24%)

NASDAQ 15,618 (-0.25%)

Fixed Income

UK 10-YR YIELD 4.375

Exchange Rates

GBP/USD 1.240

GBP/EUR 1.169

Commodities

Gold $2,306 +0.92%

Brent $83.72 (-2.50%)

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.