Tuesday,29 October 2024 08:25:31

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Tuesday,29 October 2024 at 08:22

UK & European markets opened higher as traders in the region digested the latest slew of earnings reports.

Asia-Pacific markets traded mixed in spite of gains on Wall Street as investors looked toward a slate of mega-cap technology earnings this week, including Meta Platforms and Microsoft on Wednesday and Apple on Thursday.

Oil prices were little changed after falling in the previous session as a U.S. plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support though wider concerns about weaker future demand growth exerted pressure.

Gold prices lingered near record highs supported by uncertainty surrounding the upcoming U.S. presidential election, while investors awaited data for clues on the Federal Reserve's interest rate trajectory.

In corporate news, HSBC announced another $3bn share buyback as it posted better-than-expected third-quarter profits.

In the three months to the end of September, pre-tax profit rose 10% on the same period a year earlier to $8.5bn, versus analysts’ expectations of $7.6bn.

HSBC said revenue increased 5% to $17bn, reflecting higher customer activity in its wealth products in Wealth & Personal Banking, supported by volatile market conditions, and in Foreign Exchange, Equities and Global Debt Markets in Global Banking and Markets.

Markets

At 8.22

FTSE 100 8,292 +0.08%

FTSE 250 20,779 (-0.27%)

DAX 19,623 +0.46%

At the close

Dow Jones 42,387 +0.65%

S&P 500 5,823 +0.27%

NASDAQ 18,567 +0.26%

Fixed Income

UK 10-YR YIELD 4.272

Exchange Rates

GBP/USD 1.297

GBP/EUR 1.199

Commodities

Gold $2,748 +0.26%

Brent $71.12 (-0.73%)

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.