Thursday,04 July 2024 16:55:20

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Thursday,04 July 2024 at 15:53

UK and European stocks closed higher for a second straight session, regaining some momentum as the U.K.’s general election draws focus in the region.

Oil prices fell in early trade after U.S. employment and business activity data came in weaker than expected, in signs the economy may be cooling in the world’s 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.

Swedish activist investor Cevian Capital has purchased a 5% stake in Smith & Nephew, causing shares in the medical equipment manufacturer to surge to a four-month high on Thursday.

In a 'notification of major holdings' regulatory filing on Thursday, Smith & Nephew revealed that Cevian now holds 43.9m shares in the company.

The purchase of the 5.021% stake is Cevian's first investment in the FTSE 100 company and makes the Swedish firm its third-largest shareholder.

Markets

At the close

FTSE 100 8,241 +0.86%

FTSE 250 20,610 +0.39%

DAX 18,453 +0.43%

At 16:45

Dow Jones 39,308 (-0.06%)

S&P 500 5,537 +0.51%

NASDAQ 18,188 +0.88%

Fixed Income

UK 10-YR YIELD 4.203

Exchange Rates

GBP/USD 1.276

GBP/EUR 1.179

Commodities

Gold $2,358 +0.11%

Brent $87.51 +0.55%

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.