Monday,05 August 2024 08:23:02

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.

Monday,05 August 2024 at 07:20

UK & European stocks tumbled at the open after Japan’s Nikkei tanked more than 12%, continuing the selloff that began on Friday.

Japan stocks confirmed a bear market as Asia-Pacific markets continued the sell-off from last week, with the Nikkei 225 and Topix dropping over 12%.

Oil futures extended losses in a volatile session as fears of a recession in top oil consumer the United States offset supply worries stemming from mounting tensions in the Middle East, the world's largest oil producing region.

Gold prices drifted higher, aided by worries that the United States could be headed for a recession and rising bets that the Federal Reserve will likely need to start cutting interest rates aggressively.

In corporate news, shipping services firm Clarksons reiterated its expectations for the full year even as it posted a drop in interim profit and revenue.

In the six months to 30 June, underlying pre-tax profit fell to £51.5m from £53.1m in the same period a year earlier, with revenue down to £310.1m from £321.1m.

Markets

08:20

FTSE 100 8,007 (-2.04%)

FTSE 250 20,191 (-3.05%)

DAX 17,521 (-0.80%)

the close

Dow Jones 39,737 (-1.51%)

S&P 500 5,346 (-1.84%)

NASDAQ 16,776 (-2.43%)

Fixed Income

UK 10-YR YIELD 3.838

Exchange Rates

GBP/USD 1.275

GBP/EUR 1.167

Commodities

Gold $2,430 (-0.48%)

Brent $76.14 (-1.60%)

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.