Wednesday,06 November 2024 16:57:09

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Wednesday,06 November 2024 at 16:53

UK and European stocks reversed earlier gains in afternoon trade as investors digested Donald Trump’s defeat of his Democrat rival Kamala Harris in the U.S. presidential election.

The dollar rallied broadly as traders remain cautious ahead of the U.S Fed's interest rate decision tomorrow.

U.S. crude oil fell as the Energy Information Administration released a report showing crude oil inventories rebounded by more than expected.

Gold prices traded lower and the dollar held strong after Republican Donald Trump claimed victory in the 2024 presidential contest.

Shares in Ashtead Group soared on Wednesday, on hopes US revenues at the British firm would be boosted following the historic re-election of Donald Trump as president. The equipment rental company has considerable exposure to the US through American arm Sunbelt.

Ashtead was one of numerous global stocks to react to Trump securing an emphatic win in the US presidential and Senate elections overnight.

Markets

AT THE CLOSE

FTSE 100 8,166 (-0.07%)

FTSE 250 20,446 +0.38%

DAX 19,036 (-1.14%)

AT 16.50

Dow Jones 43,556 +3.16%

S&P 500 5,900 +2.03%

NASDAQ 18,439 +1.43%

Fixed Income

UK 10-YR YIELD 4.567

Exchange Rates

GBP/USD 1.288

GBP/EUR 1.200

Commodities

Gold $2,666 (-2.81%)

Brent $75.10 (-0.42%)

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.