Thursday,24 October 2024 08:21:55

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Thursday,24 October 2024 at 07:19

UK & European stocks are expected to open in mixed territory as traders await another batch of earnings reports, and as U.S. market declines weigh on global sentiment.

Asia-Pacific markets mostly fell after U.S. stocks dropped overnight, with the Dow Jones Industrial Average posting its worst day in more than a month.

Oil prices edged higher recouping some of the more than 1% losses from the previous session after U.S. crude inventories rose much more than estimated.

Gold prices drifted higher as safe-haven demand countered a firmer dollar, while palladium hit a more than one-month peak.

In corporate news, Barclays nudged up its net interest income guidance for the full year and said it is on track to deliver against its short and medium-term targets.

The bank said it expects 2024 net interest income excluding investment bank and head office activities from around £11bn to be “greater than £11bn”.

Consumer goods giant Unilever reported third-quarter underlying sales growth of 4.5%, with volume growth up 3.6%.

The company reiterated its outlook for the full year. It continues to expect underlying sales growth to be within its multi-year range of 3% to 5%, with the majority of the growth being driven by volume.

Markets

At 8.20

FTSE 100 8,303 +0.55%

FTSE 250 20,865 +0.17%

DAX 19,426 +0.25%

At the close

Dow Jones 42,514 (-0.96%)

S&P 500 5,797 (-0.92%)

NASDAQ 18,276 (-1.60%)

Fixed Income

UK 10-YR YIELD 4.241

Exchange Rates

GBP/USD 1.295

GBP/EUR 1.202

Commodities

Gold $2,736 +0.77%

Brent $75.66 +1.09%

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.