Thursday,31 October 2024 16:54:43

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Thursday,31 October 2024 at 16:51

UK and European markets were lower as investors weighed the latest euro zone inflation data and sentiment on the UK budget soured.

The dollar eased broadly after U.S. data suggested upward price pressures continue to ease.

Oil prices gained after rallying the previous day on stronger than expected U.S. fuel demand and reports that producer group OPEC+ could delay a planned output increase.

Gold retreated but safe-haven demand prompted by a knife-edge U.S. presidential election kept the precious metal on track for its fourth straight monthly gain.

Shares in Smith & Nephew tumbled, after the medical devices firm slashed its full-year sales guidance on weaker-than-expected sales in China.

Deepak Nath, chief executive, said: "We delivered encouraging growth in most segments and markets in the third quarter.

"While the revised outlook reflects the headwinds across our surgical businesses in China, we remain convinced that our transformation to a higher growth company, with the ability to drive operating leverage through the bottom line, is on the right course."

Markets

AT THE CLOSE

FTSE 100 8,110 (-0.61%)

FTSE 250 20,388 (-1.47%)

DAX 19,058 (-1.03%)

AT 16.45

Dow Jones 41,869 (-0.64%)

S&P 500 5,730 (-1.44%)

NASDAQ 18,171 (-2.34%)

Fixed Income

UK 10-YR YIELD 4.468

Exchange Rates

GBP/USD 1.268

GBP/EUR 1.185

Commodities

Gold $2,738 (-1.73%)

Brent $72.53 (-0.14%)

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.