Wednesday,28 August 2024 08:17:19

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Wednesday,28 August 2024 at 07:14

UK & European stocks rose at the open following a positive close on Wall Street, as investors eyed results from Nvidia.

Asia-Pacific markets were mixed, as investors assessed Australia’s July inflation numbers, which came in higher than expected.

Oil rebounded after a sharp drop in the previous session ended a three-day streak of gains as investors have whipsawed between concerns about potential supply losses from Libya and the Middle East and worries about global fuel demand.

Gold prices slipped as the dollar ticked up, while investors awaited a key U.S. inflation report due this week for more clarity on the size of a likely September rate cut.

In UK corporate news, insurance giant Prudential said it is on track to hit its medium-term profit targets after a solid first half, and announced an acceleration in sales momentum since the period-end.

New business profit totalled $1.47bn in the six months to 30 June, which was 8% higher than last year when excluding the effect of interest rate and other economic impacts.

While this was down from the “exceptional” growth of 47% in the last financial year, the group reiterated its target of achieving a compound annual growth rate for new business profit of 15-20% by 2027.

Markets

08:20

FTSE 100 8,347 +0.03%

FTSE 250 21,161 +0.00%

DAX 18,745 +0.33%

the close

Dow Jones 41,250 +0.02%

S&P 500 5,625 +0.16%

NASDAQ 17,754 +0.16%

Fixed Income

UK 10-YR YIELD 3.971

Exchange Rates

GBP/USD 1.323

GBP/EUR 1.186

Commodities

Gold $2,509 (-0.61%)

Brent $79.52 (-0.36%)

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.