Thursday,31 October 2024 08:32:47

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Thursday,31 October 2024 at 08:30

UK and European markets set for further losses having ended firmly in the red a day earlier after Labour’s first Budget in 14 years.

Asia-Pacific markets slipped as investors look to the Bank of Japan’s rate decision to hold rates, as well as key business activity figures from China.

Oil prices rose, extending the previous day’s rally, driven by optimism over U.S. fuel demand following an unexpected drop in crude and gasoline inventories, while reports that OPEC+ may delay a planned output increase offered support.

Gold prices continue climbing to a record high and are headed for their best month in seven on safe-haven demand ahead of the U.S. presidential election, while investors awaited U.S. inflation report for clues on the interest rate path.

In corporate news, energy major Shell posted a dip in third-quarter profits, weighed down by lower oil prices, although the decline was less steep than feared.

Adjusted earnings before interest, tax, depreciation and amortisation fell 5% on the second quarter, to $16.01bn, while adjusted earnings - Shell’s definition of net profit - declined 4% to $6.03bn.

That was notably better than the $5.36bn expected by analysts, however.

Markets

At 8.29

FTSE 100 8,117 (-0.51%)

FTSE 250 20,579 (-0.55%)

DAX 19,133 (-0.64%)

At the close

Dow Jones 42,141 (-0.22%)

S&P 500 5,813 (-0.33%)

NASDAQ 18,607 (-0.56%)

Fixed Income

UK 10-YR YIELD 4.381

Exchange Rates

GBP/USD 1.298

GBP/EUR 1.195

Commodities

Gold $2,778 (-0.31%)

Brent $71.84 (-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.