Friday,15 November 2024 08:23:39

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Friday,15 November 2024 at 08:20

UK and European markets open lower as investors looked ahead to fresh data and assessed the future path for interest rate cuts following hawkish comments from U.S. Federal Reserve Chair Jerome Powell.

Asia markets were mixed as Wall Street fell after U.S. Federal Reserve Chair Jerome Powell indicated the central bank was in no rush to cut rates, with investors also assessing China and Japan economic data.

Oil prices edged down as oversupply concerns and demand worries stemming from a stronger dollar outweighed a steep draw in U.S. fuel stocks.

Gold traded little changed but was set for its worst week in more than three years, hurt by a stronger U.S. dollar amid expectations of fewer Federal Reserve rate cuts.

In corporate news, Land Securities said it returned to profit in the six months to 30 September as the property market continued to recover, underpinned by growing demand.

Pre-tax profit came in at £243m, compared with a loss of £193m a year earlier. The company also lifted guidance for EPRA full-year earnings.

Markets

At 8.21

FTSE 100 8,042 (-0.35%)

FTSE 250 20,465 (-0.28%)

DAX 19,136 (-0.65%)

At the close

Dow Jones 43,750 (-0.47%)

S&P 500 5,949 (-0.60%)

NASDAQ 19,107 (-0.64%)

Fixed Income

UK 10-YR YIELD 4.503

Exchange Rates

GBP/USD 1.266

GBP/EUR 1.199

Commodities

Gold $2,562 (-0.05%)

Brent $71.49 (-0.98%)

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.