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Monday,25 November 2024 at 08:29
UK and Europeanstocks openedhigheras global market sentiment
rose.
Asia-Pacificmarketsmostly 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 retreatedfollowing 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 pricesdropped 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, AngloAmerican 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 ownerKingfisher
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.
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