Monday,02 September 2024 08:19:52

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Monday,02 September 2024 at 07:17

UK & European stocks rose at the open in what is expected to be a fairly quiet session, with US markets closed for the Labor Day holiday.

Asia-Pacific markets fell as investors assessed China’s business activity numbers released over the weekend, while awaiting a slew of data due later this week.

Gold prices dipped as the dollar strengthened, while investors awaited key U.S. jobs data to firm their bets on the size of Federal Reserve’s interest rate cut expected this month.

Oil prices extended losses with investors weighing higher OPEC+ production from October against a sharp drop in output from Libya amid sluggish demand in China and the U.S., the world’s two biggest oil consumers.

In corporate news, Australian real estate advertising company REA Group confirmed speculation that it is considering a possible cash and share offer for UK property platform Rightmove.

REA, majority owned by Rupert Murdoch’s News Corp, said in a statement that it sees “clear similarities” between the two groups, but has not yet approached, nor had any discussions with, Rightmove regarding any potential offer.

Markets

08:20

FTSE 100 8,368 (-0.10%)

FTSE 250 21,047 (-0.19%)

DAX 18,907 +0.01%

the close

Dow Jones 41,563 +0.55%

S&P 500 5,648 +1.01%

NASDAQ 17,713 +1.13%

Fixed Income

UK 10-YR YIELD 4.032

Exchange Rates

GBP/USD 1.314

GBP/EUR 1.187

Commodities

Gold $2,497 (-0.21%)

Brent $76.68 (-0.40%)

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.