Tuesday,25 June 2024 16:38:28

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Tuesday,25 June 2024 at 15:38

The FTSE 100 was down 0.3% as market participants look ahead to US personal consumption expenditure data for May, which is due on Friday. A profit waring from Airbus also hit sentiment for UK aerospace stocks.

A rebound in the Nvidia share price, which has been vying to be the world’s largest company, led the S&P500 and Nasdaq Composite higher. This was despite a fall in US consumer confidence and a slowdown in home-price growth.

The dollar backed off the key 160 yen level on Tuesday, as fears of intervention from Japanese officials deterred traders from punishing the yen too severely against any other currencies. The euro, which has come under pressure amid political turmoil in France in the wake of President Emmanuel Macron’s shock snap election call earlier this month, dipped 0.1% to $1.0721, set for a monthly loss of 1%.

Oil futures were lower, consolidating after Brent ended the previous session at a nearly two-month high, buoyed in part by geopolitical worries.

Gold prices were steady on Tuesday as Western investors were waiting for the U.S. inflation data due later this week for more certainty on the timing of future U.S. rate cuts, while weaker Chinese currency was supporting demand in Asia.

In market news:

Rolls-Royce, Melrose Industries and Bodycote all fell after Airbus cut earnings guidance and delivery targets late on Monday.

Saga gained as the over-50s holidays and financial products firm said it remains on track to hit targets after an in-line start to its financial year, despite ongoing challenges in the insurance market.

Markets

the close

FTSE 100 8,250 (-0.36%)

FTSE 250 20,371 (-0.93%)

DAX 18,167 (-0.64%)

16.32

Dow Jones 39,165 (-0.63%)

S&P 500 5,465 +0.31%

NASDAQ 17,689 +1.12%

Fixed Income

UK 10-YR YIELD 4.071

Exchange Rates

GBP/USD 1.267

GBP/EUR 1.183

Commodities

Gold $2,320 (-0.51%)

Brent $84.84 (-0.39%)

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.