Wednesday,18 December 2024 16:41:28

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Wednesday,18 December 2024 at 16:52

UK and European stocks closed slightly higher as investors reacted to U.K. inflation data and awaited the latest monetary policy decision from the U.S. Federal Reserve.

The U.S. dollar held firm before the Federal Reserve policy meeting later in the session which is expected to deliver a cut, trimming rates but suggesting fewer cuts may lie ahead.

Oil prices rose while a draw in U.S. crude inventories offered further support.

Gold prices were little changed as investors remained cautious ahead of the U.S. Federal Reserve’s policy decision, which is also expected to offer guidance on its outlook for next year.

Japanese car giants Honda Motor Co and Nissan Motor Co are exploring a potential merger, it was widely reported on Wednesday. The tie-up, should it go ahead, would create the world’s third-largest carmaker behind Toyota and Volkswagen, based on sales volumes.

Citing unnamed people familiar with the discussions, the Financial Times said talks between the two were at an early stage. It also flagged potential political opposition to the deal, which would likely lead to significant job cuts.

Markets

AT THE CLOSE

FTSE 100 8,199 +0.05%

FTSE 250 20,601 +0.29%

DAX 20,260 +0.07%

AT 16:51

Dow Jones 43,590 +0.32%

S&P 500 6,063 +0.21%

NASDAQ 20,152 +0.22%

Fixed Income

UK 10-YR YIELD 4.570

Exchange Rates

GBP/USD 1.269

GBP/EUR 1.212

Commodities

Gold $2,634 (-0.42%)

Brent $74.03 +1.01%

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.