Monday,20 May 2024 08:42:37

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Monday,20 May 2024 at 07:40

UK & European markets opened higher at the start of the new trading week, building on positive momentum seen last week.

Asia-Pacific markets mostly rose, tracking Wall Street gains, as investors await economic data from across the region this week.

Gold prices hit an all-time high as a slowing U.S. inflation trend boosted expectations that the Federal Reserve could deliver its first interest rate cut soon.

Brent crude futures extended gains, inching up amid political uncertainty in major producing countries after Iran’s president died in a helicopter crash and the Saudi crown prince cancelled a Japan trip.

In corporate news, AstraZeneca announced plans to build a $1.5bn manufacturing facility for antibody drug conjugates (ADCs) in Singapore, to enhance the global supply of its cancer treatments.

The pharmaceuticals firm said the facility, supported by the Singapore Economic Development Board, would be its first end-to-end ADC production site, designed to incorporate all manufacturing steps and achieve zero carbon emissions.

Construction would start by the end of 2024, with the facility expected to be operational by 2029.

Markets

At 08:15

FTSE 100 8,440 +0.24%

FTSE 250 20,833 +0.41%

DAX 18,744 +0.21%

At the close

Dow Jones 40,003 +0.34%

S&P 500 5,303 +0.12%

NASDAQ 16,685 (-0.07%)

Fixed Income

UK 10-YR YIELD 4.127

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.167

Commodities

Gold $2,438 +1.01%

Brent $84.33 +0.51%

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.