Wednesday,03 January 2024 16:52:19

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Wednesday,03 January 2024 at 16:51

UK and European markets fell sharply after a gloomy start to new year trading yesterday.

US stocks slid and bond yields rose as optimism for fast interest-rate cuts waned amid fresh jobs data and with the release of Federal Reserve meeting minutes ahead.

Gold prices fell as the dollar firmed.

Oil prices rose after reports of a disruption to Libya’s top oilfield added to supply concerns emanating from tensions in the Red Sea.

In corporate news, supermarket retailers Sainsbury’s and Tesco advanced after the latest data from Kantar showed that retailers enjoyed their busiest Christmas since 2019.

The data also showed that the annual rate of grocery price inflation fell from 9.1% to 6.7% - the lowest level since April 2022.

Markets

At the close

FTSE 100 7,682 (-0.51%)

FTSE 250 19,326 (-0.95%)

DAX 16,522 (-1.47%)

At 16:40

Dow Jones 37,473 (-0.63%)

S&P 500 4,714 (-0.60%)

NASDAQ 14,650 (-0.78%)

Fixed Income

UK 10-YR YIELD 3.632

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.158

Commodities

Gold $2,032 (-1.28%)

Brent $77.90 +2.51%

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.