Wednesday,07 August 2024 08:20:38

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Wednesday,07 August 2024 at 07:18

UK & European stocks rose again at the open following positive US and Asian sessions.

Asia-Pacific markets extended gains, tracking Wall Street benchmarks that snapped a three-day losing streak overnight.

Gold prices edged lower as the U.S. dollar and Treasury yields strengthened, while traders awaited further cues to gauge the size of the Federal Reserve’s likely September interest rate cut.

Oil prices slipped in early Asian trading following a brief rebound in the previous session after industry data showed an unexpected build in U.S. crude oil and gasoline inventories, offsetting global oil supply concerns.

In corporate news, financial services and asset management group Legal and General reported flat interim core operating profit, in line with expectations.

The company said profit for the half rose 1% to £849m, adding that it expected 2024 core operating earnings to grow by mid-single digits year-on-year. It also lifted its interim dividend by 5% to 6p a share.

Markets

08:20

FTSE 100 8,083 +0.71%

FTSE 250 20,501 +0.66%

DAX 17,433 +0.45%

the close

Dow Jones 38,997 +0.76%

S&P 500 5,240 +1.04%

NASDAQ 16,366 +1.03%

Fixed Income

UK 10-YR YIELD 3.924

Exchange Rates

GBP/USD 1.270

GBP/EUR 1.163

Commodities

Gold $2,392 +0.15%

Brent $76.42 +0.49%

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.