Thursday,23 May 2024 16:59:32

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Thursday,23 May 2024 at 15:57

UK and European markets closed slightly higher as traders digested the minutes of the last U.S. Federal Reserve meeting and fresh economic data from the euro zone.

The pound held broadly steady near multi-month highs a day after Prime Minister Rishi Sunak called a general election.

Oil prices eased on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand.

Gold prices declined, extending their fall for a third consecutive session on profit-taking.

NatWest was trading lower on Thursday following reports that plans for a sale of shares in the bank to the general public have been put on hold after Prime Minister Rishi Sunak called a general election for 4 July.

Sky News reported late on Wednesday that plans for a multibillion pound mass market sale of the government’s stake in the bank had been derailed by the PM’s decision to call a summer general election.

The Treasury has been preparing for months for a retail offering, with several billion pounds-worth of NatWest shares to be offloaded at a discount to the prevailing market price. Under the government's plans, it would have taken place alongside an institutional placing of shares, with taxpayers' stake to be reduced to as little as 10% after the combined sale.

Markets

At the close

FTSE 100 8,339 (-0.37%)

FTSE 250 20,631 (-0.38%)

DAX 18,686 +0.03%

At 16:51

Dow Jones 39,383 (-0.72%)

S&P 500 5,316 +0.18%

NASDAQ 16,927 +0.75%

Fixed Income

UK 10-YR YIELD 4.264

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.174

Commodities

Gold $2,348 (-1.25%)

Brent $81.40 (-0.34%)

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.