Thursday,21 December 2023 08:27:58

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Thursday,21 December 2023 at 08:29

UK & European markets retreated, tracking global declines overnight.

Most Asia-Pacific markets fell after Wall Street dropped overnight, while investors awaited gross domestic product reading and inflation numbers from the U.S.

Gold prices rose, helped by a softer dollar and lower Treasury yields, as traders looked to U.S. economic data for more clues on the Federal Reserve’s monetary policy outlook.

Oil prices fell, as concerns over low demand following a surprise U.S. crude inventory build outweighed jitters over global trade disruptions and geopolitical tensions in the Middle East.

In corporate news, troubled music rights owner Hipgnosis Songs Fund reported wider interim losses and said dividends would be suspended for at least the end of the financial year to comply with loan covenants amid a row with its investment adviser over the valuation of assets.

Operating losses before tax for the six months to September 30 were $63.6m, compared with a loss of $17m a year earlier. Gross revenue from continuing operations for the period fell to $63.2m from $86.4m.

Markets

At 08:15

FTSE 100 7,695 (-0.26%)

FTSE 250 19,514 (-0.59%)

DAX 16,676 (-0.35%)

At the close

Dow Jones 37,082 (-1.27%)

S&P 500 4,698 (-1.47%)

NASDAQ 14,777 (-1.50%)

Fixed Income

UK 10-YR YIELD 3.506

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.153

Commodities

Gold $2,036 +0.23%

Brent $79.81 +0.88%

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.