Tuesday,17 September 2024 08:20:54

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Tuesday,17 September 2024 at 07:17

UK & European stocks jumped at the open following a flat close in the previous session, as investors eyed the start of the Federal Reserve’s two-day policy meeting.

Asia-Pacific stocks traded mixed with Japan’s Nikkei 225 dropping as much as 2% before paring some losses, as investors awaited for the Federal Reserve to kick off its monetary loosening cycle.

Gold prices hovered near a record high, ahead of the anticipated start of the U.S. interest rate reduction cycle, which could see policymakers deliver an outsized cut.

Oil prices extended gains as the market eyed U.S. output concerns in the aftermath of Hurricane Francine and expectations of lower U.S. crude stockpiles.

In corporate news, B&Q owner Kingfisher lifted the lower end of full-year profit guidance as it posted interim results in line with expectations.

The company said it now expected adjusted pre-tax profit of £510-550m, up from £490-550m. Pre-tax profit for the six months to July 31 rose 2.3% to £324m.

Markets

08:15

FTSE 100 8,337 +0.71%

FTSE 250 20,980 +0.24%

DAX 18,692 +0.32%

the close

Dow Jones 41,622 +0.55%

S&P 500 5,633 +0.13%

NASDAQ 17,592 (-0.52%)

Fixed Income

UK 10-YR YIELD 3.741

Exchange Rates

GBP/USD 1.320

GBP/EUR 1.187

Commodities

Gold $2,584 +0.07%

Brent $72.97 +0.03%

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.