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Monday,09 September 2024 at 15:26

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.

Markets
the close
FTSE 100 8,266 +1.03%
FTSE 250 20,634 +0.68%
DAX 18,407 +0.58%
16:30
Dow Jones 40,702 +0.88%
S&P 500 5,436 +0.52%
NASDAQ 16,740 +0.29%
Fixed Income
UK 10-YR YIELD 3.862
Exchange Rates
GBP/USD 1.307
GBP/EUR 1.184
Commodities
Gold $2,495 (-0.06%)
Brent $71.48 +0.01
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.

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