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.
UK and European stocks rose on Monday, overcoming last
week's bearish sentiment.
Wall Street's main indexes climbed this afternoon,
recovering from a week of significant losses as investors stayed hopeful for a
"soft landing" for the US economy before an important inflation
report later this week.
This week in the U.S., two significant inflation reports are
scheduled to be released, which may influence the Federal Reserve's upcoming
interest rate decision.
Oil climbed on Monday as an impending hurricane near the
U.S. Gulf Coast contributed to a rebound in oil prices after significant losses
the previous week.
Gold prices increased on Monday due to growing anticipation
of a Federal Reserve interest rate cut next week, while investors looked
forward to the U.S. inflation report for more insight into the potential
magnitude of the cut.
In company news, Northvolt, the Swedish company that raised
£10bn to challenge China’s dominance of batteries, today pledged to refocus
efforts on improving its struggling factory in Skellefteå and cutting costs.
This will involve a re-scope of operations, appropriate resizing of the
workforce, and seeking investment from outside partners in its energy storage
business.
Northvolt is the 11th largest holding in FTSE 100
constituent Scottish Mortgage Investment Trust Plc.