Wednesday,09 October 2024 16:53:27

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Wednesday,09 October 2024 at 15:49

UK and European markets traded slightly higher as positive sentiment wavered in the region, spurred on by volatility in China.

The dollar drifted sideways, giving some relief to the yen and other major currencies after a sharp rally to a seven-week high last week, as investors paused to assess the interest rate path outlook for the United States.

Oil prices steadied, as traders weighed uncertainty surrounding developments in the Middle East conflict against continued bearish fundamentals.

Gold retreated on an advancing dollar and diminished expectations for a larger rate cut in November while markets awaited minutes from the Federal Reserve’s September policy meeting.

Lenders holding £12bn of Thames Water's debt have reportedly held face-to-face talks with Ofwat this week to pitch a rescue deal that they believe would avert the nationalisation of Britain's biggest water utility.

According to Sky News, a creditor group advised by investment bank Jefferies met officials from the industry regulator on Tuesday to present the outline principles of a business plan that could buy the company vital breathing space.

City sources told Sky the group now accounted for over £12bn of Thames Water's borrowings - roughly two-thirds of its total debts - and comprised 100 separate lenders.

Markets

AT THE CLOSE

FTSE 100 8,243 +0.65%

FTSE 250 20,802 +0.83%

DAX 19,257 +0.94%

AT 16.45

Dow Jones 42,350 +0.64%

S&P 500 5,779 +0.49%

NASDAQ 18,262 +0.44%

Fixed Income

UK 10-YR YIELD 4.187

Exchange Rates

GBP/USD 1.308

GBP/EUR 1.194

Commodities

Gold $2,614 (-0.28%)

Brent $76.57 (-1.11%)

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.