Monday,23 September 2024 16:34:49

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Monday,23 September 2024 at 15:31

Europe markets higher; French and German PMIs disappoint; UniCredit ups Commerzbank stake

Wall Street stocks were higher early on Monday as the Dow Jones Industrial Average tries to build on its record close.

Oil prices were little changed on Monday after last week’s cut in U.S. interest rates and a dip in U.S. crude supply in the aftermath of Hurricane Francine countered weaker demand from top oil importer China.

Gold rose on Monday and lingered near record-high levels, as bullish market sentiment after the U.S. Federal Reserve cut interest rates last week combined with geopolitical tensions drove prices despite a stronger dollar.

AstraZeneca was firmly lower after revealing that a key trial of its breast cancer treatment, Dato-DXd, failed to improve overall survival rates.

M&S was among the day's highest risers after analysts at UBS reiterated a 'buy' rating for the stock, setting a target price of 435p – a level not seen since December 2015 and an 18% premium to Friday's closing price.

Markets

The close

FTSE 100 8,256 0.33%

FTSE 250 20,842 0.05%

DAX 18,823 0.55%

16:30

Dow Jones 42,124 0.15%

S&P 500 5,720 0.32%

NASDAQ 17,999 0.30%

Fixed Income

UK 10-YR YIELD 3.941

Exchange Rates

GBP/USD 1.334

GBP/EUR 1.198

Commodities

Gold $2,625 +0.16%

Brent $74.26 (-0.56%)

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.