Wednesday,13 November 2024 16:54:43

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Wednesday,13 November 2024 at 16:50

UK and European stocks closed lower, with global markets assessing the latest U.S. inflation data.

Oil prices held steady a day after OPEC downgraded its forecast for global oil demand growth in 2024 and 2025 and amid demand concerns in China.

Gold prices moved higher, one day after the metal dropped to its lowest in nearly two months in the previous session.

UK weapons maker Babcock reported a sharp jump in half-year profits and held annual guidance as geopolitical tensions increased demands from governments for military hardware.

Babcock said around 90% of full-year expected revenue was under contract at the start of October. The company also noted a commitment from the new UK Labour government to increasing defence spending to 2.5% of gross domestic product.

Markets

AT THE CLOSE

FTSE 100 8,030 +0.06%

FTSE 250 20,359 (-0.34%)

DAX 18,977 (-0.30%)

AT 16.50

Dow Jones 44,108 +0.45%

S&P 500 5,997 +0.23%

NASDAQ 19,280 (-0.01%)

Fixed Income

UK 10-YR YIELD 4.513

Exchange Rates

GBP/USD 1.271

GBP/EUR 1.202

Commodities

Gold $2,589 (-0.33%)

Brent $71.93 +0.47%

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.