Thursday,20 June 2024 09:10:15

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Thursday,20 June 2024 at 08:07

UK and European stocks opened slightly higher, with UK investors looking ahead to the Bank of England’s policy rate decision.

Asia-Pacific markets were mostly lower as China kept its one- and five-year loan prime rates unchanged.

Brent crude futures edged up in early trade as Israeli tanks advanced into Gaza, while U.S. crude futures dipped on the prospect of swelling oil inventories.

Gold prices edged higher after softer US retail sales data boosted expectations that the Federal Reserve will cut interest rates this year.

In corporate news, NatWest announced it was acquiring the core banking business of Sainsbury’s Bank, taking over £2.5bn of outstanding credit card, unsecured personal loan and saving accounts.

Simon Roberts, chief executive of Sainsbury’s, said the deal would allow the supermarket chain to focus “all our time and resources going forward on growing our core retail business”.

Markets

At 08:30

FTSE 100 8,222 +0.21%

FTSE 250 20,453 +0.36%

DAX 18,189 +0.77%

At the close

Dow Jones 38,834 +0.15%

S&P 500 5,487 +0.25%

NASDAQ 17,862 +0.03%

Fixed Income

UK 10-YR YIELD 4.100

Exchange Rates

GBP/USD 1.270

GBP/EUR 1.184

Commodities

Gold $2,341 +0.55%

Brent $84.98 (-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.