Friday,08 November 2024 16:34:39

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Friday,08 November 2024 at 16:31

UK & European stocks edged down in afternoon trade.

Wall Street stocks trading got off to a mostly positive start after the Federal Reserve Bank opted to lower its benchmark interest rate by 25 basis points.

Oil prices fell on receding fears over the impact of Hurricane Rafael on oil and gas infrastructure in the U.S. Gulf while investors also weighed up fresh Chinese economic stimulus.

Gold prices eased but hovered around the $2,700 level, as traders assessed the impact of Donald Trump’s presidency and its implications for the U.S. interest rate outlook.

In corporate news, Vistry tumbled as the housebuilder warned on full-year profits again, cutting its forecast for completions and pointing to the impact from issues in the South Division.

The housebuilder now expects FY24 adjusted pre-tax profit of around £300m, down from a forecast of £350m last month.

The company already warned on profits in October, saying it was expecting FY24 profit to be £80m lower, FY25 profit to be around £30m lower and profit for FY25 to be hit by £5m.

Markets

the close

FTSE 100 8,063 (-0.95%)

FTSE 250 20,509 (-0.61%)

DAX 19,209 (-0.79%)

16:30

Dow Jones 44,021 +0.67%

S&P 500 5,995 +0.38%

NASDAQ 19,257 (-0.07%)

Fixed Income

UK 10-YR YIELD 4.442

Exchange Rates

GBP/USD 1.291

GBP/EUR 1.204

Commodities

Gold $2,688 (-0.63%)

Brent $73.51 (-2.57%)

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.