Wednesday,14 August 2024 08:19:30

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Wednesday,14 August 2024 at 07:16

UK & European stocks rose at the open following a positive session on Wall Street, as investors mulled the latest UK inflation reading.

Asia-Pacific markets were mixed as the Reserve Bank of New Zealand cut benchmark lending rates and Japan’s Prime Minister Fumio Kishida announced that he would step down in September.

Gold prices edged lower as investors remained on the sidelines ahead of a key U.S. inflation print later in the day that could set the tone for the Federal Reserve’s September policy meeting.

Oil prices climbed on estimates about shrinking U.S. crude and gasoline inventories as the market watched for a possible widening of the Middle Eastern war, which could curtail global oil supplies.

In corporate news, infrastructure company Balfour Beatty lifted its dividend by 9% and said it expected annual earnings to grow after a jump in half-year profit.

The company said pre-tax profit for the six months to June rose to £112m from £82m a year earlier. It lifted the dividend to 3.8p a share from 3.5p.

Markets

08:20

FTSE 100 8,277 +0.51%

FTSE 250 20,841 +0.46%

DAX 17,8832 +0.39%

the close

Dow Jones 39,765 +1.04%

S&P 500 5,434 +1.68%

NASDAQ 17,187 +2.43%

Fixed Income

UK 10-YR YIELD 3.893

Exchange Rates

GBP/USD 1.283

GBP/EUR 1.166

Commodities

Gold $2,470 +021%

Brent $81.03 +0.15%

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.