Thursday,04 July 2024 08:52:23

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Thursday,04 July 2024 at 07:49

UK and European stocks opened slightly higher with the U.K.’s general election in focus in the region.

Asia-Pacific markets mostly rose as Japan’s major indexes as well as Taiwan’s benchmark hit all-time highs.

Oil prices edged higher in early Asian trade after industry data showed a bigger-than-expected draw in U.S. crude stockpiles, boosting hopes of solid fuel demand during the summer driving season in the top oil consuming nation.

Gold prices drifted higher after softer-than-expected U.S. economic data fuelled hopes that the Federal Reserve could cut interest rates as soon as September.

In corporate news, Smith & Nephew surged to the top of the FTSE 100 after activist investor Cevian Capital bought a 5% stake in the medical equipment manufacturer.

Cevian now holds 43.9m shares in the company, making it the third largest shareholder.

Markets

At 08:30

FTSE 100 8,216 +0.56%

FTSE 250 20,567 +0.19%

DAX 18,467 +0.50%

At the close

Dow Jones 39,308 (-0.06%)

S&P 500 5,537 +0.51%

NASDAQ 18,188 +0.88%

Fixed Income

UK 10-YR YIELD 4.196

Exchange Rates

GBP/USD 1.274

GBP/EUR 1.180

Commodities

Gold $2,355 +0.00%

Brent $86.63 (-0.46%)

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.