Tuesday,05 November 2024 16:51:32

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Tuesday,05 November 2024 at 16:47

UK and European stocks traded slightly higher as global markets geared up for the U.S. presidential election.

The dollar fell as investors treaded carefully, with a U.S. Federal Reserve interest rate cut also expected later in the week.

Oil prices traded in a narrow range, after rising more than 2% in the previous session as OPEC+ delayed plans to hike production in December.

Gold prices edged up as investors braced for political tensions after opinion polls showed Donald Trump and Kamala Harris are neck and neck in the U.S. presidential election where chances of a contested result are high.

NatWest Group has struck what is thought to be the UK's biggest-ever deal to outsource pension payments to a specialist insurance company.

According to Sky News, pension trustees at NatWest have offloaded a roughly £11bn chunk of its corporate pension scheme to Rothesay, the England cricket team's Test match sponsor.

The deal is a landmark in the accelerating trend for companies to insure their pension risks, with NatWest ranking among the UK's biggest pension scheme sponsors.

Markets

AT THE CLOSE

FTSE 100 8,172 (-0.14%)

FTSE 250 20,370 (-0.45%)

DAX 19,256 +0.57%

AT 16.44

Dow Jones 42,095 +0.72%

S&P 500 5,764 +0.91%

NASDAQ 18,387 +1.14%

Fixed Income

UK 10-YR YIELD 4.534

Exchange Rates

GBP/USD 1.300

GBP/EUR 1.191

Commodities

Gold $2,736 +0.04%

Brent $76.02 +1.25%

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.