Thursday,07 November 2024 17:00:49

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Thursday,07 November 2024 at 16:58

UK and European markets mainly closed higher as investors continued to digest Donald Trump’s presidential election win and political upheaval in Germany.

Shares on Wall Street scaled record highs, lifting stock markets around the world, while U.S. Treasuries yields retreated as investors processed a second Donald Trump presidency and awaited a Federal Reserve policy decision.

Oil trades lower, extending a sell-off triggered by the U.S. presidential election, as a strong dollar and lower crude imports in China outweighed supply risks from a Trump presidency and output cuts caused by Hurricane Rafael.

Gold prices rose but traded near a three-week low, as market participants awaited an expected rate cut decision by the U.S. Federal Reserve later in the day.

In corporate news, Rolls-Royce lost ground fell even as it reiterated its full-year guidance after a solid third-quarter performance, with demand remaining strong across civil aerospace, defence and power systems markets.

Auto Trader was under the cosh as it reported a solid increase in revenues and profits for the first half but said the new car market remains challenging and gave a mixed outlook for used cars despite strong demand.

Miners Antofagasta, Glencore, Anglo American and Rio Tinto were all up as copper and iron ore prices rose.

Markets

At the close

FTSE 100 8,140 (-0.32%)

FTSE 250 20,635 +0.92%

DAX 19,367 +1.72%

At 16.58

Dow Jones 43,711 (-0.04%)

S&P 500 5,966 +0.63%

NASDAQ 19,238 +1.35%

Fixed Income

UK 10-YR YIELD 4.522

Exchange Rates

GBP/USD 1.298

GBP/EUR 1.203

Commodities

Gold $2,695 +1.38%

Brent $75.11 +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.