Thursday,21 December 2023 16:57:28

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Thursday,21 December 2023 at 16:58

UK and European markets retreated, failing to move higher despite the resumption of a Wall Street rally.

The dollar dipped while sterling crosses were nursing losses in holiday-thinned trade ahead of the last major data release of the year in Friday’s U.S. inflation figures.

Oil prices fell after Angola announced it is leaving the Organization of the Petroleum Exporting Countries (OPEC).

Gold prices gained as U.S. Treasury yields retreated after economic data fuelled expectations that the Federal Reserve would likely cut interest rates next year.

Harbour Energy surged on Thursday after saying it has agreed to buy the upstream assets of German oil and gas producer Wintershall Dea from shareholders BASF and LetterOne for $11.2bn.

The target portfolio includes all of Wintershall’s upstream assets in Norway, Germany, Denmark, Argentina, Mexico, Egypt, Libya and Algeria as well as its CO2 Capture and Storage (CCS) licences in Europe. The Russian assets are excluded.

Markets

At the close

FTSE 100 7,694 (-0.27%)

FTSE 250 19,570 (-0.30%)

DAX 16,687 (-0.27%)

At 16:50

Dow Jones 37,309 +0.61%

S&P 500 4,733 +0.74%

NASDAQ 14,914 +0.92%

Fixed Income

UK 10-YR YIELD 3.521

Exchange Rates

GBP/USD 1.266

GBP/EUR 1.152

Commodities

Gold $2,042 +0.53%

Brent $78.86 (-0.32%)

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.