Thursday,17 October 2024 16:48:30

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Thursday,17 October 2024 at 15:45

UK and European markets were higher as traders assessed a flurry of corporate results and the European Central Bank’s third interest rate cut of the year.

The dollar jumped after data showed that U.S. retail sales increased slightly more than expected in September, boosting confidence that the U.S. economy remains strong.

Crude oil futures rose slightly after a four-day losing streak as fears of a supply disruption in the Middle East eased and a surplus looms over the market next year.

Gold prices hit record highs as uncertainty surrounding the U.S. presidential elections and the war in the Middle East prompted investors to seek out the safe-haven asset.

Nestle is to undergo a major organisational overhaul, the Swiss food giant confirmed on Thursday, as it cut sales targets in the face of persistently weak consumer demand.

New chief executive Laurent Freixe said the changes would help Nestle “sharpen” its focus on consumers, speed-up decision making and strengthen momentum behind global initiatives.

Markets

AT THE CLOSE

FTSE 100 8,385 +0.67%

FTSE 250 21,100 +0.58%

DAX 19,582 +0.77%

AT 16.40

Dow Jones 43,214 +0.32%

S&P 500 5,856 +0.24%

NASDAQ 18,436 +0.38%

Fixed Income

UK 10-YR YIELD 4.086

Exchange Rates

GBP/USD 1.301

GBP/EUR 1.200

Commodities

Gold $2,695 +0.80%

Brent $74.20 +0.04%

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.