Tuesday,09 January 2024 17:02:29

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Tuesday,09 January 2024 at 17:02

UK and European markets retreated, reversing earlier gains and extending their gloomy start to the new trading year.

The dollar edged higher and dipped against the yen as traders waited on inflation data for clues on when the Federal Reserve is likely to cut rates.

Oil prices rose after sliding in the previous session as markets weighed Middle East tensions against demand worries and rising OPEC supply.

Gold gained while focus shifted to U.S. inflation data due later this week for more insights into the Federal Reserve’s policy path.

Shares in Oxford Nanopore Technologies (ONT) plunged after the DNA/RNA sequencing tech firm warned of lower full-year margins due to a change in a purchase agreement to do with the Emirati Genome Program.

The EGP contract, which was originally signed in November 2021 over a three-year period, has been extended to the end of 2026. However, the outstanding purchase commitment under the original agreement has now been removed.

Markets

At the close

FTSE 100 7,683 (-0.13%)

FTSE 250 19,294 (-0.51%)

DAX 16,668 (-0.17%)

At 16:55

Dow Jones 37,457 (-0.60%)

S&P 500 4,749 (-0.30%)

NASDAQ 14.826 (-0.12%)

Fixed Income

UK 10-YR YIELD 3.780

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.162

Commodities

Gold $2,030 +0.11%

Brent $77.95 +2.42%

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.