Monday,04 November 2024 08:18:37

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Monday,04 November 2024 at 08:15

UK & European stocks opened flat as all eyes turned to the US election on Tuesday and policy announcements in the UK and the US this week.

Asia-Pacific markets rose as investors readied for a busy week that includes the U.S. presidential election and the Federal Reserve’s monetary policy meeting.

Gold held steady as investors prepared for a key week for the global economy in which U.S. voters elect a president and the Federal Reserve could cut interest rates again.

Oil prices extended gains, rising more than $1 on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a week that spans a U.S. presidential election and a key meeting in China.

In corporate news, Anglo American announced the A$1.6bn (£0.8bn) sale of a stake in the Jellinbah joint venture in Australia as part of its strategy to exit the steelmaking coal industry.

The mining group, which in the summer revealed plans to spin off or exit several businesses including its diamond, platinum and coking coal operations, said that it has offloaded its 33.3% interest in Jellinbah, which owns a 70% stake in the Jellinbah East and Lake Vermont steelmaking coal mines in Australia, to project partner Zashvin.

Markets

08:15

FTSE 100 8,208 +0.39%

FTSE 250 20,508 +0.14%

DAX 19,241 (-0.07%)

the close

Dow Jones 42,052 +0.69%

S&P 500 5,728 +0.41%

NASDAQ 18,239 +0.80%

Fixed Income

UK 10-YR YIELD 4.451

Exchange Rates

GBP/USD 1.298

GBP/EUR 1.190

Commodities

Gold $2,735 +0.00%

Brent $74.41 +0.56%

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.