Monday,25 November 2024 08:29:53

Market Report by Email

If you would like to receive the daily Market Report by email please fill out your name and email address in the sign-up form below and you will be added to our mailing list.

Monday,25 November 2024 at 08:29

UK and European stocks opened higher as global market sentiment rose.

Asia-Pacific markets mostly rose with investors awaiting a slew of economic data this week, including China industrial data and India’s third-quarter gross domestic product numbers.

Oil prices retreated following 6% gains last week, but remained near two-week highs as geopolitical tensions grew between Western powers and major oil producers Russia and Iran, raising risks of supply disruption.

Gold prices dropped over 1% weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury Secretary.

In corporate news, Anglo American said it has agreed to sell the portfolio of steelmaking coal mines that it operates in Australia to Peabody Energy for $3.77bn in cash as part of its pivot to be a copper, premium iron ore and crop nutrients business.

The deal follows the mining giant’s sale of its interest in the Jellinbah coal mine in Queensland, Australia for $1.1bn earlier this month.

B&Q and Screwfix owner Kingfisher nudged down the midpoint of its full-year profit guidance after a mixed third quarter, in which group sales fell 0.6%.

The company said 2024 adjusted pre-tax profit is expected to come in between £510m and £540m, compared with a previous forecast range of £510m to £550m.

Markets

At 08.27

FTSE 100 8,288 +0.32%

FTSE 250 20,673 +0.44%

DAX 19,440 +0.60%

At the close

Dow Jones 44,296 +0.97%

S&P 500 5,969 +0.35%

NASDAQ 19,003 +0.16%

Fixed Income

UK 10-YR YIELD 4.352

Exchange Rates

GBP/USD 1.255

GBP/EUR 1.201

Commodities

Gold $2,670 (-1.65%)

Brent $74.47 (-0.77%)

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.