Monday,10 June 2024 08:57:22

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Monday,10 June 2024 at 07:54

UK and European stocks opened lower as traders reacted to initial results from the EU Parliament elections which suggest far-right parties have surged in popularity.

Asia-Pacific markets were mixed after a stronger-than-expected U.S. jobs report on Friday revealed hiring and wage growth picked up in May.

Gold prices held steady after a sharp sell-off in the previous session on stronger-than-expected U.S. jobs data, with investors awaiting the Federal Reserve policy meeting this week for further direction.

Oil prices nudged lower for a second straight session, weighed down by a firmer dollar as expectations of interest rate cuts were pushed out further following strong U.S. jobs data on Friday.

In corporate news, Chemring said it had signed a 15-year deal partnering deal with US defence firm Northrop Grumman for the supply of HMX energetic material used in its missile programmes along with an order for the product worth $83m as demand for military weapons increased globally.

The deal, made through the company's Norwegian subsidiary Chemring Nobel, "supports Northrop Grumman's efforts to expand its munitions manufacturing production in response to growing customer demand", the company said on Monday.

Markets

At 08:30

FTSE 100 8,210 (-0.42%)

FTSE 250 20,484 (-0.36%)

DAX 18,436 (-0.66%)

At the close

Dow Jones 38,798 (-0.22%)

S&P 500 5,346 (-0.11%)

NASDAQ 17,133 (-0.23%)

Fixed Income

UK 10-YR YIELD 4.305

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.181

Commodities

Gold $2,295 +0.08%

Brent $79.91 +0.55%

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.