Monday,21 October 2024 16:55:42

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Monday,21 October 2024 at 15:51

UK and European markets were lower as investors awaited key corporate earnings and monitored elevated Middle East tensions.

Oil prices were broadly steady, 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 surged, as growing uncertainties surrounding the U.S. presidential election and the Middle East war added to gold’s rally already fuelled by expectations of interest rates easing.

Mining giant BHP said on Monday that it was in the process of negotiating a potential settlement with Brazilian authorities over the November 2015 failure of the Fundão dam.

BHP stated negotiations were still ongoing and that no final agreement had been reached but said its current proposal would see it return $31.7bn to people and the environment impacted by what was considered to be one of the country's worst environmental disasters.

The FTSE 100-listed group also highlighted that the settlement was expected to resolve all existing claims by Brazil's public authorities.

Markets

AT THE CLOSE

FTSE 100 8,318 (-0.48%)

FTSE 250 20,906 (-1.15%)

DAX 19,456 (-1.02%)

AT 16.45

Dow Jones 42,879 (-0.92%)

S&P 500 5,824 (-0.68%)

NASDAQ 18,383 (-0.57%)

Fixed Income

UK 10-YR YIELD 4.146

Exchange Rates

GBP/USD 1.298

GBP/EUR 1.199

Commodities

Gold $2,722 +0.03%

Brent $73.68 +1.04%

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.