Monday,21 October 2024 08:24:04

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Monday,21 October 2024 at 07:21

UK & European markets set to start the new trading week in mixed territory as investors monitored elevated Middle East tensions, with gold prices climbing to a fresh record high.

Asia-Pacific markets were mixed as traders assessed China’s loan prime rate announcement, with focus also on Japan’s general election at the end of this week.

Oil prices steadied in early trading following a more than 7% drop last week on worries about demand in China, the world’s top oil importer, and an easing of concerns about potential supply disruptions in the Middle East.

Gold rose to a fresh high extending its blazing rally amid uncertainties surrounding the U.S. election, simmering Middle East tensions and rate cuts by major central banks, while Silver scaled a near 12-year peak.

In corporate news, pharma giant AstraZeneca announced that its Wainzua nerve damage treatment has been recommended for approval in the EU.

Wainzua, otherwise known as eplontersen, has already been approved in the US for use in the treatment of adults with polyneuropathy – a disease of the peripheral nerves - associated with hereditary transthyretin-mediated amyloidosis.

If approved by the European Commission, Wainzua will be the only approved medicine in the EU for the condition that can be self-administered on a monthly basis.

Markets

At 8.20

FTSE 100 8,379 +0.25%

FTSE 250 21,182 +0.15%

DAX 19,592 (-0.28%)

At the close

Dow Jones 43,275 +0.09%

S&P 500 5,864 +0.40%

NASDAQ 18,489 +0.63%

Fixed Income

UK 10-YR YIELD 4.074

Exchange Rates

GBP/USD 1.303

GBP/EUR 1.200

Commodities

Gold $2,731 +0.38%

Brent $73.60 +0.62%

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.