Wednesday,25 September 2024 08:19:17

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Wednesday,25 September 2024 at 07:16

UK & European stocks fell at the open following two days of gains, with China in focus again after another rate cut.

China stocks led gains in Asia-Pacific markets, buoyed by stimulus measures announced by Beijing a day earlier.

Oil prices steadied after rising in the previous session on fading excitement for the economic stimulus in China, the world’s biggest crude importer, though an industry report showing falling U.S. crude and fuel inventories supported the market.

Gold prices extended their record-high run into Asian trade as persistent optimism over lower U.S. interest rates weighed on the dollar, with more cues on the U.S. economy due in the coming days.

In corporate news, LondonMetric Property said it had bought six single let urban UK logistics properties for £78m from an unnamed FTSE 100 pension fund.

The portfolio generates income of £4.8m a year, which is expected to rise to £5.8m over the next two years, the company said.

Markets

08:15

FTSE 100 8,255 (-0.33%)

FTSE 250 20,762 (-0.03%)

DAX 18,861 (-0.70%)

the close

Dow Jones 42,208 +0.20%

S&P 500 5,732 +0.25%

NASDAQ 18,074 +0.56

Fixed Income

UK 10-YR YIELD 3.942

Exchange Rates

GBP/USD 1.339

GBP/EUR 1.196

Commodities

Gold $2,653 (-0.14%)

Brent $74.86 (-0.36%)

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.