Thursday,25 July 2024 08:19:36

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Thursday,25 July 2024 at 07:17

UK & European stocks fell at the open following losses on Wall Street, where tech names came under pressure.

Japan’s Nikkei 225 extended its six-day losing streak to plunge 3%, leading losses among Asian indexes as the region saw a broad sell-off after Wall Street tumbled overnight.

Oil prices eased as concerns over weak demand in China, the world’s largest crude importer, and expectations of a nearing ceasefire deal in the Middle East overcame gains in the previous session after draws in U.S. inventories.

Gold prices fell more than 1% as investors booked profits ahead of U.S. economic data that could offer more cues on when the central bank will cut interest rates this year and by how much.

In UK corporate news, Lloyds Banking Group reported a drop in first-half profit as costs rose.

In the six months to the end of June, statutory pre-tax profit fell 14% from the same period a year earlier to £3.32bn. This was due to lower net interest income and higher operating expenses, partly offset by a lower impairment charge, the bank said.

Underlying net interest income declined 10% to £6.3bn, while operating costs rose 7%.

Markets

08:15

FTSE 100 8,090 (-0.78%)

FTSE 250 20,732 (-1.04%)

DAX 18,387 (-0.92%)

the close

Dow Jones 39,853 (-1.25%)

S&P 500 5,427 (-2.31%)

NASDAQ 17,342 (-3.64%)

Fixed Income

UK 10-YR YIELD 4.160

Exchange Rates

GBP/USD 1.287

GBP/EUR 1.189

Commodities

Gold $2,368 (-1.22%)

Brent $81.15 (-0.38%)

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.