Monday,10 June 2024 16:36:46

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Monday,10 June 2024 at 15:35

European stocks fell as traders reacted to initial results from the EU Parliament elections and the surprise call for parliamentary elections by French President Emmanuel Macron.

US stocks were trading flat to mixed in the early going following the French President's decision at the weekend to call snap parliamentary elections at the end of June.

Gold regained some ground following its biggest daily drop in three-and-a-half years in the last session, as investors awaited US inflation data and the Federal Reserve’s decision on interest rates this week

Oil prices rose, buoyed by hopes of rising fuel demand this summer, though gains were capped by a strengthening of the dollar on receding expectations of imminent cuts to U.S. interest rates.

ME Group International reported strong trading for the six months ended 30 April in an update today, with a 4.6% increase in revenue, or 8.6% excluding foreign exchange, and a 10.3% rise in profit before tax, or 13.6% notwithstanding currency effects, compared to the same period last year.

The FTSE 250 company put the growth down to a robust performance in its core photobooth and laundry operations.

Its Photo.ME photobooth operation saw a revenue increase of 2.3%, or 7.4% excluding foreign exchange, fuelled by global demand for official photo IDs.

Markets

the close

FTSE 100 8,223 (-0.27%)

FTSE 250 20,466 (-0.43%)

DAX 18,472 (-0.45%)

16:30

Dow Jones 38,704 (-0.24%)

S&P 500 5,345 (-0.03%)

NASDAQ 17,160 +0.16%

Fixed Income

UK 10-YR YIELD 4.334

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.184

Commodities

Gold $2,304 +0.46%

Brent $81.01 +1.94%

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.