Monday,08 July 2024 08:48:12

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Monday,08 July 2024 at 07:45

UK & European stocks fell at the open as markets reacted to an expected hung parliament in France after a surprise win for a left-wing coalition of parties.

Asia-Pacific markets opened mixed as investors awaited key economic data from the U.S. and China later this week, while election results in France overnight signalled a hung parliament.

Gold prices slipped as investors booked profits after bullion hit a more than one-month high in the previous session on rising bets of U.S. interest rate cuts in September.

Oil prices were little changed as investors eyed energy supply disruption, with the largest ports in Texas shut before Tropical Storm Beryl likely strengthens into a hurricane and makes landfall on Monday.

In corporate news, Danish brewing giant Carlsberg said it had reached a deal to buy UK soft drinks maker Britvic for £3.3bn after two previous bids were rejected.

Under the terms of the acquisition, Britvic shareholders will get £13.15 a share, including a special dividend of 25p a share.

Britvic two weeks ago said it had rejected two proposals from Carlsberg, one at £12 and another at £12.50p a share.

Markets

At 08:15

FTSE 100 8,195 (-0.12%)

FTSE 250 20,805 +0.09%

DAX 18,473 +0.00%

At the close

Dow Jones 39,375 +0.17%

S&P 500 5,567 +0.54%

NASDAQ 18,352 +0.90%

Fixed Income

UK 10-YR YIELD 4.125

Exchange Rates

GBP/USD 1.280

GBP/EUR 1.182

Commodities

Gold $2,380 (-0.45%)

Brent $86.02 (-0.92%)

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.