Thursday,27 June 2024 08:52:57

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Thursday,27 June 2024 at 07:50

UK and European stocks opened mixed as global inflation worries continue to rattle markets.

Asia-Pacific markets opened lower, as the Japanese yen weakened to a near 38-year low late Wednesday, hitting 160.82 against the U.S. dollar, according to FactSet data.

Oil prices slid in early Asian trade as a surprise build in U.S. stockpiles fuelled fears about slow demand from the top oil consumer, though worries a potential expansion of the Gaza war may disrupt Middle East supplies capped declines.

Gold prices steadied after falling to a two-week low in the previous session, while investors awaited U.S. inflation data for insights into how soon the Federal Reserve will cut interest rates.

In corporate news, luxury timepiece seller Watches of Switzerland held current-year guidance and said it was “cautiously optimistic” after annual profits fell amid a wind-back of discretionary spending.

Pre-tax profit for the year to April 28 fell 40% to £92m with revenues flat at £1.53bn in a “challenging” market hit by rising prices and low consumer confidence.

Markets

At 08:30

FTSE 100 8,217 (-0.09%)

FTSE 250 20,305 +0.04%

DAX 18,221 +0.35%

At the close

Dow Jones 39,127 +0.04%

S&P 500 5,477 +0.16%

NASDAQ 17,805 +0.49%

Fixed Income

UK 10-YR YIELD 4.167

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.181

Commodities

Gold $2,300 +0.12%

Brent $84.42 +0.01%

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.