Tuesday,14 May 2024 16:59:52

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Tuesday,14 May 2024 at 15:58

UK and European stocks closed slightly higher as global investors reacted to the latest U.S. inflation data.

The dollar was slightly lower after an initial jump following an unexpected increase in U.S. producer prices in April that indicated inflation remained elevated early in the second quarter.

Oil prices edged lower, after U.S. data suggested inflation remains sticky, while OPEC maintained its demand forecast for the year.

Gold prices rebounded, helped by a pullback in the dollar and Treasury yields.

Telecoms giant Vodafone said it was halving its dividend next year and handing back €2bn to shareholders after the sale of its Spanish unit as it also posted slightly better annual results.

The FTSE 100 company announced a payout of 9 cents per share for 2024 but said it would slash this to 4.5 cents per share from next year “with an ambition to grow it over time”.

Markets

At the close

FTSE 100 8,428 +0.16%

FTSE 250 20,618 +0.28%

DAX 18,723 (-0.10%)

At 16:53

Dow Jones 39,424 (-0.02%)

S&P 500 5,224 +0.06%

NASDAQ 16,438 +0.31%

Fixed Income

UK 10-YR YIELD 4.174

Exchange Rates

GBP/USD 1.259

GBP/EUR 1.163

Commodities

Gold $2,350 (-0.64%)

Brent $82.27 (-1.32%)

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.