Friday,17 May 2024 08:40:13

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Friday,17 May 2024 at 07:37

UK & European markets opened lower after shares snapped a nine-day winning streak in the previous session as earnings weighed on positive sentiment.

Asia-Pacific markets mostly fell as investors assessed key China data to gauge the state of the world’s second-largest economy.

Gold prices appeared set for a second consecutive weekly gain after recent U.S. inflation data fuelled expectations that the Federal Reserve could cut interest rates this year.

Oil prices rose in Asian trading hours with global benchmark Brent set for its first weekly increase in three weeks on signs of improving global demand and slowing inflation in top oil consumer the United States.

In corporate news, Unilever announced the start of its share buyback programme worth up to €1.5bn, confirming an initial tranche of up to €850m in shares.

The consumer goods giant said the initial tranche would run to 30 August, in a bid to reduce its capital within the limits set by the general meeting on 1 May 2024. Goldman Sachs International had been instructed to conduct the first tranche independently of Unilever.

Markets

At 08:15

FTSE 100 8,426 (-0.15%)

FTSE 250 20,789 (-0.16%)

DAX 18,683 (-0.30%)

At the close

Dow Jones 39,869 (-0.10%)

S&P 500 5,297 (-0.21%)

NASDAQ 16,698 (-0.26%)

Fixed Income

UK 10-YR YIELD 4.099

Exchange Rates

GBP/USD 1.266

GBP/EUR 1.165

Commodities

Gold $2,383 +0.30%

Brent $83.57 +0.23%

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.