Wednesday,10 January 2024 16:52:13

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Wednesday,10 January 2024 at 16:53

UK and European markets were lower as sentiment turns negative after a brief rally in yesterday’s trading session.

The dollar gained as investors waited on U.S. inflation data due on Thursday for fresh clues on when the Federal Reserve is likely to begin cutting interest rates.

Oil rose as Middle East supply concerns arising from the Israel-Hamas war and the shutdown of a top Libyan oilfield offset rising U.S. output and worries about economic growth.

Gold steadied as traders kept their eyes glued to U.S. inflation data that could shape the Federal Reserve’s outlook on interest rate cuts this year.

Water utility company Pennon is raising up to £180m in an equity capital raise to fund the acquisition of Sumisho Osaka Gas Water UK, the holding company of Sutton and East Surrey Water (SES Water).

The UK-listed group is buying SES Water and other ancillary businesses for £89m from Sumitomo Corporation and Osaka Gas, with a total enterprise value of £380m, when including net debt of £291m.

Markets

At the close

FTSE 100 7,651 (-0.42%)

FTSE 250 19,280 (-0.07%)

DAX 16,693 +0.03%

At 16:45

Dow Jones 37,572 +0.13%

S&P 500 4,764 +0.17%

NASDAQ 14.897 +0.27%

Fixed Income

UK 10-YR YIELD 3.823

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.161

Commodities

Gold $2,026 (-0.18%)

Brent $77.45 +0.22%

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.