Thursday,13 June 2024 08:43:43

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Thursday,13 June 2024 at 07:41

UK and European stocks opened lower as regional investors react to the U.S. Federal Reserve’s latest monetary policy decision and U.S. inflation data.

Asian currencies were firm against a dollar knocked by softer-than-expected U.S. inflation, save for the yen which remained squeezed ahead of a Bank of Japan meeting.

Oil prices fell while ample U.S. crude and fuel stocks further weighed on the market.

Gold prices fell after the U.S. Federal Reserve in its most recent policy meeting scaled back to only one interest rate cut later this year, fewer than previously projected.

UK banking and money transfer company Wise said it expected underlying income to grow 15-20% this financial year as a sharp rise in customer numbers and higher interest rates boosted earnings.

The company on Thursday reported underlying pre-tax profit of £248.1m for the year to March, up 226%. Reported pre-tax profits surged to £481.4m from £146.5m and income rose by a quarter to £1.05bn.

Markets

At 08:30

FTSE 100 8,204 (-0.14%)

FTSE 250 20,433 (-0.31%)

DAX 18,577 (-0.29%)

At the close

Dow Jones 38,712 (-0.09%)

S&P 500 5,421 +0.85%

NASDAQ 17,608 +1.53%

Fixed Income

UK 10-YR YIELD 4.164

Exchange Rates

GBP/USD 1.278

GBP/EUR 1.182

Commodities

Gold $2,315 (-0.30%)

Brent $82.23 (-0.34%)

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.