Wednesday,14 August 2024 16:54:36

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Wednesday,14 August 2024 at 15:52

UK and European stocks advanced and the British pound weakened against other major currencies after data showed that the UK inflation turned softer than anticipated in July.

US stocks turned in lacklustre performance following Consumer Price Inflation data.

The Japanese yen weakened against other major currencies in the European session on Wednesday.

Oil rebounded from steep overnight losses after industry data pointed to a sizable drop in U.S. crude stockpiles.

Gold held near record highs as the dollar and Treasury yields dipped on expectations the Federal Reserve will ease its monetary policy in September.

Insurance firm Aviva said on Wednesday that profits had surged in the six months ended 30 June on the back of an increase in written premiums throughout the period.

Chief executive Amanda Blanc said: "We have achieved another six months of excellent trading. We have generated growth right across Aviva, thanks to our leading positions in attractive markets such as workplace pensions and general insurance in the UK and Canada.

"Aviva continues to benefit significantly from the balanced and diversified business we have built and lead."

Markets

At the close

FTSE 100 8,281 +0.56%

FTSE 250 20,952 +1.00%

DAX 17,879 +0.38%

At 16:48

Dow Jones 39,940 +0.44%

S&P 500 5,450 +0.30%

NASDAQ 17,195 +0.05%

Fixed Income

UK 10-YR YIELD 3.830

Exchange Rates

GBP/USD 1.284

GBP/EUR 1.165

Commodities

Gold $2,442 (-0.89%)

Brent $80.44 (-0.58%)

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.