Thursday,13 June 2024 16:36:52

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Thursday,13 June 2024 at 15:36

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

The dollar gained despite a soft U.S. producer price inflation report for May, after the Federal Reserve adopted a hawkish tone at the conclusion of its meeting on Wednesday.

Gold prices trimmed some losses after weaker-than-expected U.S. producer inflation data raised hopes for two rate cuts in 2024, even as the Federal Reserve’s projections called for just one cut this year.

Oil prices edged higher after U.S. markets opened to economic data showing a softening of the country's labour market while fresh inflation numbers suggested that price pressures could be easing.

In corporate news, Halma surged to the top of the index after it reported another year of record profit and revenue as it hailed a solid performance in the safety and the environment & analysis sectors.

In the year to the end of March 2024, adjusted pre-tax profit rose 10% to £396.4m on revenue of £2.03bn, up 10% on the previous year.

Markets

the close

FTSE 100 8,159 (-0.68%)

FTSE 250 20,251 (-1.20%)

DAX 18,256 (-2.01%)

16:30

Dow Jones 38,435 (-0.71%)

S&P 500 5,412 (-0.15%)

NASDAQ 17,634 +0.15%

Fixed Income

UK 10-YR YIELD 4.137

Exchange Rates

GBP/USD 1.276

GBP/EUR 1.185

Commodities

Gold $2,307 (-0.63%)

Brent $82.54 +0.02%

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.