Tuesday,12 November 2024 08:20:05

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Tuesday,12 November 2024 at 08:16

UK & European markets opened lower, as investors assess what U.S. President-elect Donald Trump’s return to the White House could mean for the region’s economy amid worries about possible tariffs.

Asia-Pacific markets fell after China’s latest stimulus measures underwhelmed and its October inflation numbers came in lower than expected, prompting concerns over the recovery in the world’s second-largest economy.

Gold fell to its lowest in nearly two months, weighed down by a stronger dollar, while investors awaited a set of key U.S. economic data and comments from Federal Reserve officials for further clarity on the interest rate trajectory.

Oil prices eased as investor disappointment over China's latest stimulus plan and oversupply concerns weighed on the market, along with a stronger dollar.

In corporate news, AstraZeneca reported a strong financial performance for the first nine months of the year, with a 19% increase in revenue driven by solid growth in oncology, CVRM, respiratory, and rare diseases, leading to upgraded full-year guidance.

The FTSE 100 pharma giant said it had also submitted a new biologics licence application for datopotamab deruxtecan in EGFR-mutated non-small cell lung cancer, informed by phase two and three trial data, while withdrawing a prior BLA for a broader indication.

Additionally, AstraZeneca announced positive phase three trial results for Koselugo in adults with neurofibromatosis type 1, as well as a $3.5bn investment to expand its research and development and manufacturing footprint in the United States.

Markets

08:15

FTSE 100 8,080 (-0.55%)

FTSE 250 20,579 (-0.70%)

DAX 19,265 (-0.94%)

the close

Dow Jones 44,293 +0.69%

S&P 500 6,001 +0.10%

NASDAQ 19,298 +0.06%

Fixed Income

UK 10-YR YIELD 4.455

Exchange Rates

GBP/USD 1.280

GBP/EUR 1.204

Commodities

Gold $2,603 (-0.59%)

Brent $71.89 +0.20%

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.