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Monday,02 December 2024 at 16:47
UK and European markets broadly closed higher, as investors assessed the global economic and interest rate outlook heading into the final trading month of the year.
The euro dropped versus a strengthening U.S. dollar on growing concerns about a possible government collapse in France, which would stall plans to curb a burgeoning budget deficit.
Oil prices edged up supported by upbeat factory activity in the world’s second largest oil consumer China and as Israel resumed attacks on Lebanon despite a ceasefire agreement.
Gold prices slipped as the U.S. dollar staged a sharp rally and investors braced for pivotal economic data and Federal Reserve insights on the path of interest rates.
Shares in auto giant Stellantis slumped after the shock resignation of Carlos Tavares as the chief executive over the weekend.
Stellantis, which makes the Jeep, Fiat, Vauxhall and Peugeot, said it would try to replace Tavares in the first half of 2025. Tavares had been expected to retire at the end of his mandate in early 2026.
The company has been plagued by falling sales and growing inventories in North America. It issued a profit warning with its 2024 full-year guidance.
Markets
AT THE CLOSE
FTSE 100 8,312 +0.31%
FTSE 250 20,769 (-0.01%)
DAX 19,908 +1.44%
AT 16:48
Dow Jones 44,809 (-0.23%)
S&P 500 6,043 +0.18%
NASDAQ 19,377 +0.83%
Fixed Income
UK 10-YR YIELD 4.218
Exchange Rates
GBP/USD 1.263
GBP/EUR 1.204
Commodities
Gold $2,640 (-0.36%)
Brent $71.66 (-0.51%)
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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