Friday,19 July 2024 16:35:58

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Friday,19 July 2024 at 15:33

UK & European stocks were mostly lower.

The dollar was steady and poised to snap a two-week losing run on Friday as U.S. labor and manufacturing data kept traders pondering on when and by how much the Federal Reserve would cut rates this year.

Oil prices were little changed as a strong dollar and concern over top oil importer China’s economy were countered by a tighter supply outlook.

Gold prices dipped, as the dollar gained and profit taking kicked in following bullion's all-time peak hit earlier this week, which was fuelled by rising expectations of U.S. interest rate cuts in September.

In corporate news, Yellow Cake reported a significant rise in its full-year financial performance on Friday, driven by a substantial increase in uranium prices.

The AIM-traded firm said the spot price of triuranium octoxide peaked at a 16-year high of $107 per pound in February 2024 and closed the financial year at $87 per pound, marking a 72% rise from $50.65 per pound on 31 March 2023.

During the 12 months ended 31 March, the value of Yellow Cake's triuranium octoxide holdings surged 84%, reaching $1.75bn.

Markets

the close

FTSE 100 8,145 (-0.73%)

FTSE 250 21,047 (-0.88%)

DAX 18,178 (-0.96%)

16:35

Dow Jones 40,295 (-0.91%)

S&P 500 5,522 (-0.40%)

NASDAQ 17,797 (-0.41%)

Fixed Income

UK 10-YR YIELD 4.129

Exchange Rates

GBP/USD 1.291

GBP/EUR 1.186

Commodities

Gold $2,403 (-1.69%)

Brent $83.96 (-0.94%)

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.