Wednesday,11 September 2024 08:21:48

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,11 September 2024 at 07:22

UK & European stocks fell at the open as data showed the UK economy continued to stagnate in July.

Asia-Pacific markets were lower, with Japan’s Nikkei leading losses in the region.

Gold prices steadied, as investors keenly awaited the U.S. inflation data for hints on the size of the Federal Reserve’s potential interest rate cut next week.

Crude prices bounced as concerns about Tropical Storm Francine disrupting supply of oil outweighed worries about demand.

Pest-control giant Rentokil Initial has scaled back its profit guidance for the full year after weaker-than-expected summer trading in North America.

The company, which had already reduced profit targets in July due to additional investments in the second half, said that revised growth expectations and higher costs mean adjusted operating profits would be £50m lower than current expectations.

As such, Rentokil is now guiding to an adjusted profit before tax and amortisation of £700m for 2024, down from £766m last year.

Markets

08.15

FTSE 100 8,215 +0.11%

FTSE 250 20,689 +0.16%

DAX 18,353 +0.22%

the close

Dow Jones 40,829 +1.20%

S&P 500 5,471 +1.16%

NASDAQ 16,884 +1.16%

Fixed Income

UK 10-YR YIELD 3.801

Exchange Rates

GBP/USD 1.309

GBP/EUR 1.185

Commodities

Gold $2,525 +0.39%

Brent $70.10 +0.58%

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.