Wednesday,12 June 2024 08:49:38

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Wednesday,12 June 2024 at 07:49

UK and European stocks opened higher ahead of the latest U.S. Federal Reserve decision and inflation reading.

Asia-Pacific markets were mixed as investors assessed inflation data from around Asia.

Gold prices were flat as investors awaited the U.S. Federal Reserve’s policy announcement for insights into how soon it will cut interest rates this year and the May inflation report due later in the day.

Oil prices ticked higher on upbeat global demand views from the U.S. Energy Information Administration and OPEC.

In corporate news, Molten Ventures reported a gross portfolio value of £1.38bn for the year ended 31 March, with net assets rising to £1.25bn.

The FTSE 250 venture capital firm said key highlights of the 12 months ended 31 March included £65m invested from its balance sheet, the acquisition of Forward Partners, and a 50% forecasted revenue growth for its ‘Core’ portfolio.

It also launched its inaugural Sustainability Report, committed to climate initiatives, and formally established the Esprit Foundation, awarding its first grants to social mobility and inclusion projects.

Markets

At 08:30

FTSE 100 8,198 +0.63%

FTSE 250 20,347 +0.40%

DAX 18,465 +0.52%

At the close

Dow Jones 38,747 (-0.31%)

S&P 500 5,375 +0.27%

NASDAQ 17,343 +0.88%

Fixed Income

UK 10-YR YIELD 4.244

Exchange Rates

GBP/USD 1.274

GBP/EUR 1.186

Commodities

Gold $2,311 (-0.20%)

Brent $82.29 +0.29%

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.