Friday,15 November 2024 16:33:51

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Friday,15 November 2024 at 16:29

UK & European markets shifted lower during a choppy session, as investors assessed fresh economic data and the future path for interest rate cuts following hawkish comments from U.S. Federal Reserve Chair Jerome Powell.

Wall Street stocks were in the red early on Friday, setting major indices on a course for a losing week following last week's solid post-election rally.

Gold prices steadied near the previous session’s two-month lows and were poised for their worst weekly performance in over three years as a rallying U.S. dollar and expectations of less aggressive interest rate cuts by the Federal Reserve pressured the precious metal.

Oil prices slipped and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve's interest rate cut path.

In corporate news, Land Securities gained after saying 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

the close

FTSE 100 8,065 (-0.07%)

FTSE 250 20,504 (-0.09%)

DAX 19,203 (-0.31%)

16:30

Dow Jones 43,504 (-0.56%)

S&P 500 5,882 (-1.13%)

NASDAQ 18,738 (-1.93%)

Fixed Income

UK 10-YR YIELD 4.479

Exchange Rates

GBP/USD 1.263

GBP/EUR 1.197

Commodities

Gold $2,564 +0.01%

Brent $71.96 (-0.34%)

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.