Wednesday,13 November 2024 08:24:33

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Wednesday,13 November 2024 at 08:21

UK and European stocks opened flat with global markets focused on upcoming U.S. inflation data.

Asia-Pacific stock markets mostly fell, tracking losses on Wall Street as the U.S. postelection rally stalled overnight.

Oil prices edged up on signs of near-term supply tightness but remained near their lowest in two weeks a day after OPEC downgraded its forecast for global oil demand growth in 2024 and 2025.

Gold prices slightly higher as investors hunted for bargains after steep declines in the previous session, while spotlight shifted to U.S. inflation print, which could shed more light on the Federal Reserve’s monetary policy path.

In corporate news, weapons maker Babcock reported a sharp jump in half-year profits and held annual guidance as geopolitical tensions increased demand from governments for military hardware.

The company posted pre-tax profit of £172m in the six months to September 30, up from £136m a year earlier.

Babcock said around 90% of full-year expected revenue was under contract at the start of October.

Markets

At 8.22

FTSE 100 8,031 +0.07%

FTSE 250 20,477 +0.24%

DAX 19,036 +0.01%

At the close

Dow Jones 43,910 (-0.86%)

S&P 500 5,983 (-0.29%)

NASDAQ 19,281 (-0.09%)

Fixed Income

UK 10-YR YIELD 4.533

Exchange Rates

GBP/USD 1.273

GBP/EUR 1.200

Commodities

Gold $2,604 +0.25%

Brent $71.86 +0.33%

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.