Friday,16 August 2024 16:51:04

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Friday,16 August 2024 at 15:48

U.K. stocks drifted lower while the pound strengthened against other major currencies.

European stocks were broadly higher, rising for a fourth straight session as strong U.S. retail sales data and low weekly jobless claims figures soothed fears of an impending recession in the world's largest economy.

Oil prices fell sharply after the on-and-off truce talks reconvened in Qatar's capital on Thursday without Hamas.

Gold prices rose and were on track for a weekly gain amid optimism that the Fed will ease the interest rate by at least 25 points in September.

British fintech firm Revolut reached a valuation of $45bn, it was reported on Friday, after a secondary share sale involving new and existing investors.

According to Reuters, the share sale led by Coatue and D1 Capital Partners, with participation from existing investor Tiger Global, positioned Revolut as one of the most valuable fintech companies in Europe.

The valuation followed Revolut's recent achievement of securing a UK banking licence after a three-year application process.

Markets

At the close

FTSE 100 8,311 (-0.43%)

FTSE 250 21,048 (-0.21%)

DAX 18,328 +0.80%

At 16:35

Dow Jones 40,563 +0.01%

S&P 500 5,536 (-0.13%)

NASDAQ 17,556 (-0.21%)

Fixed Income

UK 10-YR YIELD 3.942

Exchange Rates

GBP/USD 1.289

GBP/EUR 1.173

Commodities

Gold $2,485 +1.23%

Brent $79.83 (-1.29%)

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.