Wednesday,21 August 2024 16:32:25

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Wednesday,21 August 2024 at 15:29

UK & European stocks were muted.

The dollar edged higher after falling to its lowest level against the euro this year as investors waited for revisions to U.S. employment data and a speech by Federal Reserve Chair Jerome Powell.

Oil prices held broadly steady after a run of declines that have pushed Brent down to almost $77, driven by stubborn fears over Chinese demand and diminishing concerns about conflict spreading in the Middle East.

Gold prices eased as the dollar halted its slide, while investors looked forward to the minutes from the U.S. Federal Reserve’s latest policy meeting later in the day for more cues on interest rate cuts.

In corporate news, Target shares surged on Wednesday after the US retailer posted better-than-expected second-quarter earnings and lifted its annual profit outlook.

The retailer said total revenue rose 2.7% on the same period a year earlier to $25.5bn, while net income was up 40% to $1.19bn.

Markets

the close

FTSE 100 8,282 +0.11%

FTSE 250 21,132 +0.70%

DAX 18,456 +0.54%

16:30

Dow Jones 40,846 +0.03%

S&P 500 5,613 +0.29%

NASDAQ 17,885 +0.38%

Fixed Income

UK 10-YR YIELD 3.902

Exchange Rates

GBP/USD 1.306

GBP/EUR 1.173

Commodities

Gold $2,507 (-0.23%)

Brent $77.09 (-0.10%)

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.