Thursday,30 May 2024 08:42:12

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Thursday,30 May 2024 at 07:41

London stocks were mixed on Thursday after a downbeat session on Wall Street, where concerns about prolonged high US interest rates led to a surge in bond yields. Investors were anticipating the release of US Q1 GDP figures at 1:30 pm and the latest PCE numbers on Friday.

Asia-Pacific markets extended their losses, following Wall Street's decline and ahead of numerous economic data releases from the region on Friday. Japan and South Korea will report their industrial production figures, and China will release its official purchasing managers index for May. Additionally, inflation data for Tokyo, Japan's capital city, will be published.

Gold prices declined for the second consecutive session on Thursday as the US dollar and Treasury yields rose in anticipation of key inflation data, which could provide further insight into the Federal Reserve’s interest rate strategy.

Oil prices fell as markets awaited the latest US crude oil stockpiles data, while robust US economic activity suggested borrowing costs might remain high for longer, potentially reducing demand.

In company news, banknote maker De La Rue announced on Thursday that it was delaying the publication of its full-year results as it is currently in talks with several parties interested in buying either of its divisions. Following a review of its "core strategic strengths," De La Rue is now evaluating strategic options for the group and each division.

Chairman Clive Whiley stated: "Since my appointment a year ago, the board has considered a broad range of possible strategic alternatives, including transactions with multiple parties which may involve a combination with, or the sale of, the group's divisions." The company also confirmed there was no change to its previous guidance for FY24.

Markets

08:38

FTSE 100 8,182 (-0.01%)

FTSE 250 20,462 +0.13%

DAX 18,434 (-0.21%)

the close

Dow Jones 38,441 (-1.06%)

S&P 500 5,267 (-0.74%)

NASDAQ 16,920 (-0.58%)

Fixed Income

UK 10-YR YIELD 4.383

Exchange Rates

GBP/USD 1.270

GBP/EUR 1.175

Commodities

Gold $2,333

Brent $82.98

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.