Monday,13 May 2024 16:55:40

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Monday,13 May 2024 at 15:54

UK and European markets closed mixed as investors awaited the release of fresh U.S. inflation data.

Asia-Pacific markets were largely lower as investors assessed China’s stronger-than-expected April inflation data.

Oil prices were little changed after losing about $1 a barrel in the previous session on signs that U.S. policymakers are likely to keep interest rates higher for longer.

Gold prices declined as investors awaited key U.S. inflation data, which could shed light on the timing of the Federal Reserve’s first rate cut.

BHP said on Monday that Anglo American has rejected a revised offer from the Australian miner which valued the company at £34bn. The second takeover offer, which was made on 7 May, was as up from an initial offer of £31bn, received in April. It was rejected on 13 May.

BHP chief executive Mike Henry said: "BHP put forward a revised proposal to the Anglo American board that we strongly believe would be a win-win for BHP and Anglo American shareholders. We are disappointed that this second proposal has been rejected.

Markets

At the close

FTSE 100 8,414 (-0.22%)

FTSE 250 20,560 (-0.41%)

DAX 18,738 (-0.18%)

At 17:00

Dow Jones 39,504 (-0.02%)

S&P 500 5,221 (-0.02%)

NASDAQ 16,376 +0.22%

Fixed Income

UK 10-YR YIELD 4.178

Exchange Rates

GBP/USD 1.255

GBP/EUR 1.163

Commodities

Gold $2,334 (-1.11%)

Brent $83.06 +0.47%

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.