Friday,20 September 2024 16:32:40

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Friday,20 September 2024 at 15:29

UK & European markets moved lower as investors digested a slew of central bank rate decisions this week and their impact on the global economy.

Wall Street stocks were in the red early following yesterday's rally.

Spot gold prices hit a record high as a weak dollar, expectations of more U.S. interest rate cuts and tensions in the Middle East more than offset muted physical demand in Asia.

Oil prices eased but were on track to register gains for a second straight week following a large cut in U.S. interest rates and declining global stockpiles.

In corporate news, Nike's share price surged 6% at the open after the news that boss John Donahoe is to step down next month amid the sports apparel giant's struggles to regain momentum in key markets.

Donahoe, who has led Nike as president and chief executive since January 2020, will be replaced by company veteran Elliott Hill, who retired from the company four years ago.

Prior to his exit, Hill as the president and Consumer and Marketplace at Nike, leading all commercial and marketing operations for Nike and Jordan Brand, including the P&L across the company’s four geographies.

Markets

the close

FTSE 100 8,228 (-1.20%)

FTSE 250 20,838 (-1.53%)

DAX 18,722 (-1.47%)

16:30

Dow Jones 41,897 (-0.30%)

S&P 500 5,675 (-0.66%)

NASDAQ 17,842 (-0.95%)

Fixed Income

UK 10-YR YIELD 3.919

Exchange Rates

GBP/USD 1.327

GBP/EUR 1.191

Commodities

Gold $2,611 +0.97%

Brent $74.68 (-0.29%)

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.