Tuesday,13 August 2024 16:53:54

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Tuesday,13 August 2024 at 15:51

UK and European stocks closed higher as market participants monitored a fresh batch of economic data following last week’s volatility.

The yen remained weak and the dollar softened against the rest of its peers in calmer trading, as markets await U.S. inflation data.

Oil prices edged lower as markets refocused on concerns about demand after OPEC on Monday cut its forecast for demand growth in 2024 due to softer expectations in China.

Gold prices fell as investors locked in profits after the metal closed at an all-time high in the previous session and ahead of bets around the Federal Reserve’s monetary policy path.

Crest Nicholson tumbled on Tuesday after Bellway said it was not planning to make an offer for its housebuilding rival. The company said last month that it was "minded to accept" a revised £720m takeover offer from Bellway, having rejected an approach at £650m a month earlier.

Crest Nicholson said it remains it remains confident in its standalone prospects, "in particular given conclusion of the review of provisions for completed development sites supported by external consultants, its highly attractive land portfolio and the new leadership of Martyn Clark".

Markets

At the close

FTSE 100 8,235 +0.30%

FTSE 250 20,744 +0.32%

DAX 17,806 +0.45%

At 16.45

Dow Jones 39,554 +0.50%

S&P 500 5,400 +1.05%

NASDAQ 17,066 +1.70%

Fixed Income

UK 10-YR YIELD 3.895

Exchange Rates

GBP/USD 1.282

GBP/EUR 1.170

Commodities

Gold $2,468 (-0.13%)

Brent $80.86 (-1.40%)

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.