Tuesday,12 November 2024 16:38:26

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Tuesday,12 November 2024 at 16:35

UK and European markets close lower as investors assess what U.S. President-elect Donald Trump’s return to the White House could mean for the region’s economy.

Wall Street's main indexes were little changed following post-election gains over the past few days as focus moved to key U.S. inflation data later in the week for more signals on the country's economic and monetary policy outlook.

Oil prices steadied recovering from a 5% drop over the previous two sessions, as investors absorbed OPEC's latest downward revision for oil demand and market's disappointment over China's latest stimulus plan.

Gold hovered near a one-month low as caution crept in ahead of key U.S. inflation readings, reports on retails sales and industrial production, and commentary from Federal Reserve officials due this week.

In corporate news, Fresnillo slid after saying that Industrias Peñoles, its partner in a long-standing silver production agreement, was having operational issues affecting the Sabinas mine, which is fully owned by Peñoles.

Vodafone slumped even as it reiterated full-year guidance after saying first-half results were in line with expectations.

Russ Mould, investment director at AJ Bell, said the quarterly performance "was marred by a weak showing for its German business, its biggest market, where a previously flagged issue around the government barring housing associations from bundling TV with rent is impacting performance".

Markets

At the close

FTSE 100 8,021 (-1.28%)

FTSE 250 20,446 (-1.34%)

DAX 19,053 (-2.03%)

At 16.35

Dow Jones 44,118 (-0.41%)

S&P 500 5,990 (-0.20%)

NASDAQ 19,280 (-0.09%)

Fixed Income

UK 10-YR YIELD 4.498

Exchange Rates

GBP/USD 1.274

GBP/EUR 1.201

Commodities

Gold $2,600 (-0.72%)

Brent $72.13 +0.49%

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.