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Wednesday,29 May 2024 at 15:52
UK
and European stock markets closed lower on Wednesday.
US stocks waded in the red after
a spike in Treasury yields unsettled investors already weighing whether recent
data will shift the needle on interest rates.
Gold prices fell as
a stronger dollar, higher bond yields and hawkish comments from a Federal
Reserve official weighed on market sentiment as it braced for the release of
U.S. inflation data.
Oil prices held firm on
expectations major producers will maintain production cuts at a meeting this
Sunday at the same time fuel consumption should begin rising with the start of
the peak summer demand season.
In corporate news, Anglo
American lost ground as it rejected BHP's request to extend
its 'put up or shut up' offer deadline, advising shareholders to take no action
in response to the latter's latest attempt to sway the mining group into a
£39bn takeover deal.
Markets
At the close
FTSE 100 8,183 (-0.86%)
FTSE 250 20,436 (-1.30%)
DAX 18,474 (-1.09%)
At 16:30
Dow Jones 38,516 (-0.87%)
S&P 500 5,275 (-0.59%)
NASDAQ 16,954 (-0.38%)
Fixed Income
UK 10-YR YIELD 4.398
Exchange Rates
GBP/USD 1.270
GBP/EUR 1.175
Commodities
Gold $2,341 (-0.84%)
Brent $83.25 (-1.24%)
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.
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