Friday,12 July 2024 09:33:20

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Friday,12 July 2024 at 08:30

UK & European stocks started the day in the green, defying a broader selloff, with fresh U.S. inflation data set to land.

Japan’s Nikkei 225 led losses in Asia snapping a three-day winning streak and plunging over 2% after hitting a record high in the previous session.

Gold prices edged lower but were headed for a third straight week of gains as cooler-than-expected U.S. inflation data boosted hopes of the Federal Reserve cutting interest rates in September.

Oil prices inched up on Friday amid signs of easing inflationary pressures in the world’s biggest oil consumer, the United States, though the contracts were headed for a weekly decline.

Corporate news was scarce, but Ashmore lost ground as it said assets under management declined in the last quarter on the back of weaker investor sentiment.

The FTSE 250 firm, a specialist in emerging markets, said AUM fell by $2.4bn in fourth quarter to 30 June to $49.5bn.

Within that, the negative investment performance was $0.4bn while net outflows were $2bn, unchanged on the previous quarter.

Markets

At 09:15

FTSE 100 8,248 +0.31%

FTSE 250 21,186 (-0.01%)

DAX 18,575 +0.22%

At the close

Dow Jones 39,753 +0.08%

S&P 500 5,584 (-0.88%)

NASDAQ 18,283 (-1.95%)

Fixed Income

UK 10-YR YIELD 4.119

Exchange Rates

GBP/USD 1.293

GBP/EUR 1.188

Commodities

Gold $2,406 (-0.33%)

Brent $86.00 +0.57%

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.