Tuesday,02 July 2024 16:46:18

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Tuesday,02 July 2024 at 15:44

UK and European stock markets were lower, after the euro zone’s latest inflation print presented a mixed picture of price pressures in the bloc.

Rising U.S. yields supported the dollar, with low-yielding currencies such as Japan’s yen and China’s yuan feeling the pressure.

Oil prices were little changed on expectations for rising fuel demand from the summer travel season and possible U.S. interest rate cuts that could boost economic growth.

Gold held onto earlier losses as investors digested comments from Federal Reserve Chair Jerome Powell and looked forward to U.S. jobs data due later this week.

Shell said on Tuesday that it has temporarily paused construction of a biofuels facility in the Netherlands.

Work at the 820,000 tonnes a year biofuels facility at the Shell Energy and Chemicals Park Rotterdam has been paused "to address project delivery and ensure future competitiveness given current market conditions", the oil giant said.

As a result, contractor numbers will reduce on site and activity will slow down, "helping to control costs and optimise project sequencing".

Markets

At the close

FTSE 100 8,121 (-0.56%)

FTSE 250 20,194 (-0.14%)

DAX 18,152 (-0.75%)

At 16:40

Dow Jones 39,169 +0.01%

S&P 500 5,480 +0.11%

NASDAQ 17,925 +0.26%

Fixed Income

UK 10-YR YIELD 4.260

Exchange Rates

GBP/USD 1.267

GBP/EUR 1.181

Commodities

Gold $2,325 (-0.26%)

Brent $86.81 +0.27%

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.