Monday,16 September 2024 16:48:16

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Monday,16 September 2024 at 15:45

UK and European stocks were mixed as investors prepared for a bumper week of interest rate decisions from the U.S Federal Reserve and the Bank of England.

The U.S. dollar fell to its lowest level in nearly nine months against the Japanese yen after media reports once again fuelled speculation the Federal Reserve could deliver a super-sized 50-basis-point interest rate cut at its policy meeting this week.

Oil prices rose as continuing disruption to U.S. Gulf oil infrastructure balanced persistent demand concerns after a fresh round of Chinese data.

Gold prices charged to a record high as a weaker dollar and the prospects of aggressive U.S. monetary policy easing boosted non-yielding bullion’s appeal.

American asset management firm Apollo Global Management has invested in BP's part-owned Trans Adriatic Pipeline as part of a $1bn deal.

Apollo Funds is to become a non-controlling shareholder in bp Pipelines TAP Limited, an entity which holds a 20% stake in Trans Adriatic Pipeline AG, BP said on Monday.

The transaction, which is part of BP's $2-3bn target for divestments and disposals in 2024, provides Apollo with exposure to a world-class energy asset, while allowing the energy producer to "unlock near-term value and capital for efficient reallocation".

Markets

AT THE CLOSE

FTSE 100 8,278 +0.06%

FTSE 250 20,929 +0.16%

DAX 18,635 (-0.34%)

AT 16.45

Dow Jones 41,503 +0.27%

S&P 500 5,617 (-0.15%)

NASDAQ 17,563 (-0.68%)

Fixed Income

UK 10-YR YIELD 3.754

Exchange Rates

GBP/USD 1.319

GBP/EUR 1.186

Commodities

Gold $2,580 +0.09%

Brent $72.37 +0.39%

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.