Tuesday,21 May 2024 16:58:08

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Tuesday,21 May 2024 at 15:57

UK and European markets were lower, reversing more positive sentiment seen at the start of the week.

The dollar struggled for direction as investors stuck to their views of the expected timing of Federal Reserve monetary easing this year.

Oil prices fell, with investors anticipating higher-for-longer U.S. inflation and interest rates will depress consumer and industrial demand.

Gold prices hovered near a record peak, as traders looked to offset risks from uncertain geopolitics to macroeconomic headwinds in major global economies.

AstraZeneca has unveiled medium-term growth targets to nearly double group revenues by the end of the decade as it predicts significant growth from existing oncology, biopharmaceuticals and rare disease portfolios.

The pharma giant said it expects total revenues to hit $80bn by 2030, helped by the launch of 20 new medicines over the year six years, compared with $45.8bn in 2023.

Markets

At the close

FTSE 100 8,416 (-0.09%)

FTSE 250 20,783 (-0.43%)

DAX 18,726 (-0.23%)

At 16:50

Dow Jones 39,862 +0.14%

S&P 500 5,312 +0.09%

NASDAQ 16,795 +0.01%

Fixed Income

UK 10-YR YIELD 4.131

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.170

Commodities

Gold $2,422 (-0.11%)

Brent $82.45 (-1.42%)

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.