Monday,23 December 2024 16:37:47

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Monday,23 December 2024 at 16:36

London stocks finished slightly up in quiet trade, as data showed the UK economy stalled in the third quarter. Revised figures released by the Office for National Statistics showed the economy did not grow in Q3, down from a previous estimate of 0.1% growth.

Wall Street's main indexes were mixed at the start of a holiday-shortened week, after a stopgap government funding bill averted a partial shutdown and investors braced for a slower pace of rate cuts from the U.S. central bank next year.

Gold prices eased on a firmer dollar, in thin, holiday-season trade and as investors sought further clues on the U.S. Federal Reserve’s monetary policy for next year after its latest meeting signalled easing would be gradual.

The euro edged lower against the dollar on Monday, while markets continued to digest the recent string of central bank meetings that pushed the dollar to a two-year high and set expectations for globally diverging rate cut paths in 2025.

Oil prices stabilised after losses last week as lower-than-expected U.S. inflation data offset investors’ concerns about a supply surplus next year.

In market news:

Aviva said it had struck a deal to buy troubled insurance rival Direct Line for £3.75bn after intensive talks over the weekend but warned it would be looking for cost savings via job cuts.

Japanese auto giants Nissan and Honda have announced plans to merge their businesses into one in 2026 following recent speculation surrounding a possible tie-up.

Markets

16.30

FTSE 100 8,096 +0.15%

FTSE 250 20,402 (-0.24%)

DAX 19,837 (-0.24%)

16.30

Dow Jones 42,566 (-0.59%)

S&P 500 5,926 (-0.07%)

NASDAQ 19,639 +0.35%

Fixed Income

UK 10-YR YIELD 4.560%

Exchange Rates

GBP/USD 1.251

GBP/EUR 1.203

Commodities

Gold $2,612 (-0.40%)

Brent $72.03 (-1.26%)

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.