Tuesday,05 November 2024 08:19:32

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.

Tuesday,05 November 2024 at 08:15

UK & European stocks are heading for a lackluster start to the trading day as global markets gear up for the U.S. presidential election, with the vote too close to call between former President Donald Trump and current Vice President Kamala Harris.

Asia-Pacific markets traded mixed as investors prepared for the U.S. presidential election and a possible interest rate cut from the Federal Reserve later this week.

Gold prices held their ground as investors held back from taking big positions ahead of the U.S. presidential election and the Federal Reserve policy meeting later this week.

Oil prices traded in a narrow range ahead of what is expected to be an exceptionally close U.S. presidential election, after rising more than 2% in the previous session as OPEC+ delayed plans to hike production in December.

In corporate news, Weir Group reported a 15% increase in original equipment orders in the third quarter, driven by substantial greenfield projects including the Reko Diq copper and gold mine and OCP phosphate projects, contributing £51m.

Aftermarket demand remained steady, with minerals aftermarket orders up 3%, while ESCO saw a slight 2% decline, offset by gains in core ground engaging tools.

The FTSE 100 company reaffirmed its full-year guidance for revenue and profit growth, aiming for an 18% operating margin and 90% to 100% cash conversion, alongside cumulative savings of £19m towards a £60m target by 2026.

Markets

08:15

FTSE 100 8,188 +0.05%

FTSE 250 20,467 +0.03%

DAX 19,170 +0.12%

the close

Dow Jones 41,794 (-0.61%)

S&P 500 5,712 (-0.28%)

NASDAQ 18,179 (-0.33%)

Fixed Income

UK 10-YR YIELD 4.457

Exchange Rates

GBP/USD 1.297

GBP/EUR 1.191

Commodities

Gold $2,733 (-0.08%)

Brent $75.13 +0.07%

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.