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Friday,20 December 2024 at 16:28

UK & European stocks were down in the afternoon trade.

Wall Street stocks opened lower, with the blue-chip Dow Jones on track to deliver its worst weekly performance since March 2023.

Gold prices extended gains, supported by a softer dollar and Treasury yields after U.S. economic data indicated a slowdown in inflation, although the Federal Reserve’s hawkish interest rate outlook kept bullion on track for a weekly loss.

Oil prices fell on worries about demand growth in 2025, especially in top crude importer China, putting global oil benchmarks on track to end the week down more than 3%.

In corporate news, Frasers Group was the top gainer after Boohoo shareholders voted overwhelmingly against the appointment to the board of Mike Ashley and restructuring expert Mike Lennon.

Just under 64% of shareholders voted against each of the proposed appointments.

In a number of open letters, Frasers had urged Boohoo to make both appointments, having criticised the company’s "dismal" interim results and "long-term mismanagement". 

Markets
the close
FTSE 100 8,092 (-0.16%)
FTSE 250 20,430 +0.15%
DAX 19,904 (-0.33%)
16:30
Dow Jones 42,856 +1.21%
S&P 500 5,934 +1.15%
NASDAQ 19,595 +1.15%
Fixed Income
UK 10-YR YIELD 4.523
Exchange Rates
GBP/USD 1.257
GBP/EUR 1.207
Commodities
Gold $2,623 +1.15%
Brent $72.76 +0.17%
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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