Thursday,27 June 2024 16:35:24

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Thursday,27 June 2024 at 15:33

UK & European stocks moved slightly lower as investors faced global inflation worries.

Global market attention is shifting toward fresh U.S. inflation data on Friday, with May’s personal consumption expenditures price index, the U.S. Federal Reserve’s preferred inflation gauge, due to be released.

Oil prices edged up as supply disruption risks from rising geopolitical tensions in the Middle East helped to counter demand fears after a surprise build in U.S. stockpiles.

Gold prices rose 1% from an over two-week low hit in the previous session as the dollar softened, with the market spotlight on key U.S. inflation data for more cues on the Federal Reserve’s interest rate path.

In corporate news, DS Smith was the top gainer on the index after Brazilian pulp maker Suzano said it had ended talks to buy International Paper. DS Smith agreed to be bought by International Paper in April for £5.8bn.

According to Reuters, a deal between Suzano and IP would have been conditional on IP abandoning its DS Smith bid.

In a statement on Wednesday, Suzano said that IP had not engaged with the highest price it was willing to pay. Mondi also advanced.

Markets

the close

FTSE 100 8,183 (-0.51%)

FTSE 250 20,345 +0.23%

DAX 18,198 +0.24%

16:35

Dow Jones 39,0185 +0.15%

S&P 500 5,478 +0.00%

NASDAQ 17,830 +0.14%

Fixed Income

UK 10-YR YIELD 4.136

Exchange Rates

GBP/USD 1.264

GBP/EUR 1.181

Commodities

Gold $2,326 +1.25%

Brent $85.23 +0.97%

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.