Friday,09 August 2024 16:37:18

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Friday,09 August 2024 at 15:34

UK & European stocks closed up in the afternoon trade.

US stocks were lower early on Friday after market participants bought the dip in the previous session.

Gold prices held steady after a sharp rise in the previous session, buoyed by a dip in U.S. Treasury yields, as investors grew confident the Federal Reserve will lower interest rates in September.

Oil advanced this week after the stock market recovered losses from Monday’s sell-off.

In corporate news, Merck said that it has agreed to buy biotech firm Curon’s CN201, a novel investigational clinical-stage bispecific antibody for the treatment of B-cell associated diseases, for up to $1.3bn.

Under the terms of the deal, Merck will buy full global rights to CN201 for an upfront cash payment of $700m. Curon is also eligible to receive up to $600m in milestone payments associated with the development and regulatory approval of CN201.

Markets

the close

FTSE 100 8,171 +0.33%

FTSE 250 20,600 +0.45%

DAX 17,716 +0.20%

16:35

Dow Jones 39,500 +0.14%

S&P 500 5,334 +0.28%

NASDAQ 16,695 +0.21%

Fixed Income

UK 10-YR YIELD 3.942

Exchange Rates

GBP/USD 1.276

GBP/EUR 1.168

Commodities

Gold $2,428 +0.09%

Brent $79.36 +0.56%

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.