Tuesday,22 October 2024 08:19:55

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Tuesday,22 October 2024 at 07:16

UK & European stocks opened mixed following a mostly weaker Asian session, as investors digested the latest UK borrowing figures.

Asia-Pacific markets slipped, trailing a mixed session on Wall Street.

Gold prices rose and hovered near a record high hit in the previous session amid uncertainties around the U.S. election, ongoing Middle East tensions, and expectations of central banks’ interest rate cuts.

Oil prices fell, paring the previous day’s nearly 2% rise as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East, and as slow demand in China, the world’s top oil importer, continued to weigh on the market.

In corporate news, InterContinental Hotels Group reported a jump in third-quarter room revenue, as good business demand and strength in the US and EMEAA helped to offset a weaker performance in China.

Global revenue per available room rose 1.5%. Chief executive Elie Maalouf said this reflected "the strength of our globally diverse footprint, healthy business demand and a record period for groups bookings".

RevPAR in the Americas was up 1.7%, while EMEAA saw a 4.9% increase, but Greater China saw RevPAR decline 10.3%.

Markets

08:15

FTSE 100 8,293 (-0.30%)

FTSE 250 20,899 (-0.03%)

DAX 19,533 +0.37%

the close

Dow Jones 42,931 (-0.80%)

S&P 500 5,853 (-0.18%)

NASDAQ 18,540 +0.27%

Fixed Income

UK 10-YR YIELD 4.161

Exchange Rates

GBP/USD 1.300

GBP/EUR 1.201

Commodities

Gold $2,734 +0.54%

Brent $73.65 (-0.18%)

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.