Thursday,30 May 2024 16:56:45

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Thursday,30 May 2024 at 15:54

UK and European stocks were higher, shaking off a negative trend this week as global markets come under pressure from rising bond yields.

US stocks headed for more losses as lingering concerns about higher-for-longer interest rates and a Salesforce (CRM) sell-off put a damper on investors' spirits.

Gold prices eked out gains as the dollar and Treasury yields slipped after U.S. economic data raised hopes that the Federal Reserve is firmly on track to cut interest rates this year.

U.S. crude oil was little changed but is on pace for its worst month of the year and a second consecutive monthly loss.

In corporate news, Auto Trader surged to the top of the FTSE 100 as it said the new financial year had got off to a strong start and posted in jump in annual sales and profits.

The car marketplace specialist said revenues in the year to 30 May rose 14% to £570.9m.

Within that, Auto Trader sales increased 12% to £529.7m while leasing specialist Autorama saw a 51% increase to £41.2m.

Markets

At the close

FTSE 100 8,235 +0.64%

FTSE 250 20,670 +1.15%

DAX 18,514 +0.22%

At 16:30

Dow Jones 38,055 (-1.01%)

S&P 500 5,241 (-0.48%)

NASDAQ 16,833 (-0.52%)

Fixed Income

UK 10-YR YIELD 4.357

Exchange Rates

GBP/USD 1.274

GBP/EUR 1.175

Commodities

Gold $2,343 +0.20%

Brent $82.34 (-1.16%)

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.