Tuesday,11 June 2024 08:55:05

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Tuesday,11 June 2024 at 07:52

UK and European stocks opened slightly higher as investors look ahead to the Federal Reserve’s next meeting and U.S. inflation data.

Asia-Pacific markets were mixed, even as the S&P 500 and Nasdaq Composite reached new highs on Wall Street overnight.

Gold prices fell with investors awaiting key U.S. inflation data and the outcome of the Federal Reserve’s policy meeting for details of the central bank’s plans to cut interest rates against its inflation target.

Oil prices rose, extending the previous day’s rally on hopes of higher seasonal fuel demand and potential U.S. crude purchases for its petroleum reserve, though gains were capped by a firmer dollar.

In corporate news, bus and train operator FirstGroup hiked its dividend by 45% after a substantial jump in annual profits, and pointed to further growth in margins in the current financial year.

However, the company said that while a number of risks facing the business had reduced during the year, helped by an improved inflationary outlook, challenges to do with industrial relations “still persist”, while it was mindful of a potential renationalisation of National Rail contracts as a result of Labour winning the upcoming election.

Markets

At 08:30

FTSE 100 8,245 +0.20%

FTSE 250 20,521 +0.37%

DAX 18,504 +0.05%

At the close

Dow Jones 38,868 +0.18%

S&P 500 5,360 +0.26%

NASDAQ 17,192 +0.35%

Fixed Income

UK 10-YR YIELD 4.291

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.181

Commodities

Gold $2,303 (-0.29%)

Brent $81.51 (-0.48%)

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.