Friday,02 August 2024 08:22:46

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Friday,02 August 2024 at 07:20

UK & European stocks fell at the open following heavy losses in Asia, as investors eyed the latest US non-farm payrolls report.

Japan’s benchmark indexes nosedived as much as 5%, with most Asia-Pacific markets lower after a sell-off on Wall Street overnight over recession worries.

Gold prices firmed and were set for a weekly gain, driven by prospects of a Fed rate cut in September and rising tensions in the Middle East, while market participants awaited U.S. nonfarm payrolls data for further direction.

Oil prices rose but were set for a fourth weekly decline as signs of disappointing global fuel demand growth outweighed fears of supply disruptions in the key Middle East production region.

In UK corporate news, IAG described its performance during the first half of 2024 as "strong" and announced the restart of dividend payments.

For the three months ending on 30 June the carrier posted a 7.8% jump in revenues to approximately €8.3bn.

Operating profits for the latest three months came in at €1.24bn or 0.8% lower, but were nevertheless ahead of UBS analyst Jarrod Castle's estimate for €1.01bn. Profit before tax of €909m beat Castle´s estimate of €673m.

Markets

08:20

FTSE 100 8,242 (-0.51%)

FTSE 250 21,162 (-1.38%)

DAX 17,886 (-1.09%)

the close

Dow Jones 40,347 (-1.21%)

S&P 500 5,446 (-1.37%)

NASDAQ 17,194 (-2.30%)

Fixed Income

UK 10-YR YIELD 3.846

Exchange Rates

GBP/USD 1.270

GBP/EUR 1.177

Commodities

Gold $2,462 +0.73%

Brent $80.13 +0.24%

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.