Wednesday,18 September 2024 08:19:22

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Wednesday,18 September 2024 at 07:16

UK & European stocks fell at the open as investors mulled the latest UK inflation reading and looked ahead to a policy announcement from the US Federal Reserve.

Asia-Pacific markets were mixed, following gains on Wall Street that saw both the S&P 500 and the Dow Jones Industrial Average reach new highs.

Gold prices were flat as investors weighed chances of an outsized interest rate cut by the Federal Reserve later in the day.

Oil prices steadied, after rising in the previous two sessions, as investors await the U.S. Federal Reserve’s anticipated interest rate cut, with the potential for more violence in the Middle East supporting the market.

In corporate news, Legal & General Group said it had sold UK house builder CALA Group for £1.35bn to Ferguson Bidco, an entity owned by funds managed by Sixth Street Partners and Patron Capital.

The insurer said it would receive cash proceeds of £1.16bn, of which £500m will be paid at closing with the remaining consideration being paid over the next five years.

Markets

08:15

FTSE 100 8,292 (-0.20%)

FTSE 250 20,897 (-0.23%)

DAX 18,735 +0.05%

the close

Dow Jones 41,606 (-0.04%)

S&P 500 5,634 +0.03%

NASDAQ 17,628 +0.20%

Fixed Income

UK 10-YR YIELD 3.792

Exchange Rates

GBP/USD 1.318

GBP/EUR 1.185

Commodities

Gold $2,570 +0.07%

Brent $73.28 (-0.57%)

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.