Monday,03 June 2024 16:37:46

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Monday,03 June 2024 at 15:38

European markets started the month higher Monday, extending last week’s rally, as investors look ahead to the European Central Bank’s latest interest rate decision later this week.

The tech-heavy Nasdaq Composite and benchmark S&P 500 rose on Monday, with US stocks eyeing an upbeat start to June as hopes for rate cuts revive and the meme stock mania roars back.

Gold prices ticked up on Monday, as investors awaited multiple U.S. economic reports this week for clues on health of the economy, after a recent inflation report suggested the Federal Reserve might have room for rate cuts in 2024.

Oil prices fell early on Monday, despite a move by producer group OPEC+ to extend deep output cuts well into 2025.

Low-cost single-board and modular computer maker Raspberry Pi announced on Monday that it is looking to raise around £157m in its stock-market debut in London next week. The company is pricing its initial public offering at between 260p and 280p per share and is thought to be valued at around £500m.

GSK shares were down almost 10% on Monday after a US court ruled that jury trials could hear expert witnesses in 70,000 cases brought by cancer sufferers claiming its Zantac heartburn drug caused their condition.

Markets

At the close

FTSE 100 8,266 (-0.10%)

FTSE 250 20,899 +0.82%

DAX 18,483 (-0.07%)

16:15

Dow Jones 38,477 (-0.58%)

S&P 500 5,270 (-0.14%)

NASDAQ 16,771 0.22%

Fixed Income

UK 10-YR YIELD 4.241

Exchange Rates

GBP/USD 1.2787

GBP/EUR 1.1749

Commodities

Gold $2,343 0.67%

Brent $78.54 (-3.44%)

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.