Monday,14 October 2024 16:33:24

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Monday,14 October 2024 at 15:31

UK & European stocks gained taking cues from positive momentum stateside as traders looked ahead to a busy week of earnings.

The US dollar hovered near recent highs as investors digested China’s weekend stimulus announcements that some found disappointing, while the euro extended its fall ahead of a central bank meeting this week.

Oil prices fell after data showed China’s inflation rate declined and a lack of clarity on the country’s economic stimulus plans stoked fears about fuel demand in the world’s biggest crude importer.

Gold prices steadied amid a risk-off mood driven by an underwhelming China fiscal stimulus, while investors awaited comments from U.S. Federal Reserve officials for hints on its interest rate outlook.

In corporate news, Ladbrokes owner Entain and Flutter Entertainment were sharply lower following a report the government is planning a tax raid of up to £3bn on the gambling sector in this month’s Budget.

According to The Guardian, Treasury officials are understood to be weighing up proposals, put forward by two influential thinktanks and backed by one of the party’s top five individual donors, to double some of the taxes levied on online casinos and bookmakers.

Markets

At the close

FTSE 100 8,284 +0.37%

FTSE 250 20,796 +0.15%

DAX 19,497 +0.64%

At 16.30

Dow Jones 42,980 +0.27%

S&P 500 5,851 +0.63%

NASDAQ 18,480 +0.75%

Fixed Income

UK 10-YR YIELD 4.242

Exchange Rates

GBP/USD 1.305

GBP/EUR 1.195

Commodities

Gold $2,645 (-0.42%)

Brent $77.28 (-1.77%)

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.