Tuesday,17 September 2024 16:51:09

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Tuesday,17 September 2024 at 15:50

UK and European stocks closed higher, rebounding from a negative session at the start of the week as upcoming central bank meetings remained in focus.

The U.S. dollar strengthened following better-than-expected retail sales data that seemed to support a less aggressive stance by the Federal Reserve when it delivers a much expected interest rate cut.

Oil prices edged lower, as fears of weaker demand in China weighed on market sentiment.

Gold eased slightly as dollar and Treasury yields edged higher, while traders positioned themselves for a potential U.S. interest rate cut decision by the Federal Reserve this week.

Gambling technology firm Playtech said on Tuesday that it has agreed to sell its Italian business, Snaitech, to Paddy Power owner Flutter Entertainment for €2.3bn in cash.

Once the deal completes, Playtech said it will focus on its "technology-led offering in high-growth B2B gambling markets with an accelerated growth plan and an extensive portfolio of strategic ventures".

Playtech also said that after completion, it plans to return €1.7bn to €1.8bn to shareholders by way of a special dividend.

Markets

AT THE CLOSE

FTSE 100 8,309 +0.38%

FTSE 250 20,944 +0.07%

DAX 18,730 +0.52%

AT 16.45

Dow Jones 41,781 +0.38%

S&P 500 5,656 +0.42%

NASDAQ 17,711 +0.68%

Fixed Income

UK 10-YR YIELD 3.769

Exchange Rates

GBP/USD 1.316

GBP/EUR 1.183

Commodities

Gold $2,564 (-0.69%)

Brent $73.73 +1.04%

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.