Monday,11 November 2024 16:39:00

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Monday,11 November 2024 at 16:38

UK and European stocks were higher, starting a data-packed week on a positive footing as investors assess what Donald Trump’s presidency could mean for markets.

The euro dropped as investors worried about possible U.S. tariffs that would hurt the euro area’s economy.

Oil prices fell, after China’s stimulus plan disappointed investors seeking fuel demand growth in the world’s No. 2 oil consumer.

Gold prices slipped, weighed down by the greenback’s continued rise and the broader implications of Donald Trump’s victory on fiscal policy and interest rate cuts.

UK insurer Direct Line said it planned to axe 550 jobs as part of a turnaround plan amid continuing struggles at its motor insurance arm.

The company on Monday said motor trading conditions had been "challenging although we continued to grow policy count on price comparison websites and have worked at pace on the launch of the Direct Line brand in this channel".

Direct Line said it was targeting £50m gross costs savings in 2025.

Markets

AT THE CLOSE

FTSE 100 8,125 +0.65%

FTSE 250 20,721 +0.99%

DAX 19,463 +1.29%

AT 16.30

Dow Jones 44,337 +0.79%

S&P 500 6,010 +0.24%

NASDAQ 19,296 +0.05%

Fixed Income

UK 10-YR YIELD 4.432

Exchange Rates

GBP/USD 1.287

GBP/EUR 1.208

Commodities

Gold $2,616 (-2.52%)

Brent $71.87 (-2.70%)

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.