Thursday,29 August 2024 08:20:21

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Thursday,29 August 2024 at 07:18

UK & European stocks rose at the open as investors mulled results from US chip maker Nvidia overnight.

Asia-Pacific markets fell, with tech stocks dragging South Korean and Taiwanese indexes after chipmaker Nvidia reported its second-quarter results.

Oil prices held mostly steady as a smaller-than-expected draw in U.S. crude inventories and continued worries over China demand countered supply disruptions out of Libya.

Gold is attempting a minor recovery while holding within this week’s familiar range, having regained $2,500. Gold price capitalizes on broad risk aversion, as traders now shift their focus to the second estimate of the US Gross Domestic Product and Pending Home Sales data due later.

In UK corporate news, GSK announced that the European Commission has approved Arexvy, the first respiratory syncytial virus (RSV) vaccine, for adults aged 50 to 59 at increased risk due to underlying medical conditions.

The FTSE 100 pharmaceuticals giant said the approval expanded the vaccine's indication, which was previously authorised for adults aged 60 and over, and aimed to protect the estimated 20 million at-risk adults in the age group across Europe ahead of the RSV season. It was also approved in the US, with additional approvals expected in other countries, including Japan, later in the year.

Markets

08:20

FTSE 100 8,352 +0.10%

FTSE 250 21,058 (-0.04%)

DAX 18,789 +0.04%

the close

Dow Jones 41,091 (-0.39%)

S&P 500 5,592 (-0.60%)

NASDAQ 17,556 (-1.12%)

Fixed Income

UK 10-YR YIELD 3.993

Exchange Rates

GBP/USD 1.321

GBP/EUR 1.188

Commodities

Gold $2,516 +0.60%

Brent $77.57 +0.26%

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.