Tuesday,09 July 2024 08:45:05

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Tuesday,09 July 2024 at 07:42

UK & European stocks opened lower as investors in the region weigh up political uncertainty in France after Sunday’s election result.

Asia-Pacific markets were higher after the S&P 500 and the Nasdaq Composite closed at record highs overnight, with Japan’s Nikkei and Topix hitting fresh highs.

Gold prices were slightly higher.

Oil prices settled down as Hurricane Beryl shut U.S. refineries and ports along the Gulf of Mexico, and on hopes a possible ceasefire deal in Gaza could reduce worries about global crude supply disruptions.

In corporate news, BP said it would take a hit of up to $2bn in the second quarter relating to asset impairments and onerous contract provisions, including charges relating to the ongoing review of its Gelsenkirchen refinery in Germany.

The oil and gas giant also forecast flat upstream production in the second quarter, while its gas marketing and trading result was also expected to be average following a strong result in the first quarter.

Markets

At 08:15

FTSE 100 8,209 +0.19%

FTSE 250 20,778 (-0.10%)

DAX 18,384 (-0.47%)

At the close

Dow Jones 39,344 (-0.08%)

S&P 500 5,572 +0.10%

NASDAQ 18,403 +0.28%

Fixed Income

UK 10-YR YIELD 4.128

Exchange Rates

GBP/USD 1.280

GBP/EUR 1.183

Commodities

Gold $2,359 +0.03%

Brent $85.37 (-0.30%)

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.