Tuesday,02 January 2024 16:44:58

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Tuesday,02 January 2024 at 16:44

UK and European stocks closed lower, shortly after the European regional benchmark hit its highest level in nearly two years.

US stocks fell, setting Wall Street up for a downbeat start to 2024 after a winning year that left the S&P 500 just short of a new record high.

Gold prices gained, boosted by expectations of an easing of monetary policy by the U.S. Federal Reserve in 2024 as investors look forward to a slew of economic data this week.

Oil prices jumped 1%, starting the New Year higher as a Red Sea naval clash focused attention on potential Middle East supply disruptions.

In corporate news, Diversified Energy Company was higher after completing the sale of producing assets in Appalachia to a special purpose vehicle, DP Lion Equity Holdco, while retaining a 20% minority interest and operational control. The transaction generated around $200m in proceeds, allowing the company to reduce its debt by 12%.

Markets

At the close

FTSE 100 7,721 (-0.15%)

FTSE 250 19,511 (-0.90%)

DAX 16,764 +0.08%

At 16:40

Dow Jones 37,672 (-0.04%)

S&P 500 4,739 (-0.64%)

NASDAQ 14,790 (-1.47%)

Fixed Income

UK 10-YR YIELD 3.646

Exchange Rates

GBP/USD 1.261

GBP/EUR 1.151

Commodities

Gold $2,065 +0.12%

Brent $75.99 (-1.34%)

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.