Tuesday,01 October 2024 16:46:45

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Tuesday,01 October 2024 at 15:43

UK and European stocks were lower, erasing earlier gains amid heightened fears of a possible attack by Iran on Israel.

Safe haven currencies the Japanese yen and Swiss franc gained after news reports that Iran is preparing to imminently launch a ballistic missile attack against Israel.

Oil prices surged on fears over escalating conflict in the Middle East.

Gold prices rose as safe-haven demand spurred by an escalation in the Middle East conflict, along with lower U.S. bond yields pushed prices back near last week’s record highs.

Boeing is reportedly considering raising at least $10bn by selling new stock as it looks to replenish cash reserves depleted further by an ongoing strike.

Bloomberg cited people familiar with the discussions as saying that Boeing is working with advisers to explore its options.

It was understood that raising equity isn’t likely to happen for at least a month, assuming the plane maker can resolve the strike, because Boeing wants a firm grasp of the financial toll from the walkout by 33,000 workers.

Markets

AT THE CLOSE

FTSE 100 8,276 +0.48%

FTSE 250 20,940 (-0.53%)

DAX 19,186 (-0.72%)

AT 16.45

Dow Jones 42,055 (-0.65%)

S&P 500 5,669 (-1.27%)

NASDAQ 17,796 (-2.15%)

Fixed Income

UK 10-YR YIELD 3.954

Exchange Rates

GBP/USD 1.327

GBP/EUR 1.199

Commodities

Gold $2,663 +1.10%

Brent $74.65 +3.71%

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.