Monday,10 February 2025 08:45:34

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Monday,10 February 2025 at 08:42

UK and European markets are set to start the week on a positive note, appearing to shrug off President Donald Trump’s latest tariff announcement. It remains to be seen whether UK and European markets can evade negative sentiment that’s denting investor confidence elsewhere.

Asia-Pacific markets were mixed as escalating trade tensions kept investors on edge. U.S. President Donald Trump told reporters Sunday that he was planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday, according to Reuters.

Oil prices ticked higher even as investors weighed U.S. President Donald Trump’s latest tariff threat, this time on all steel and aluminum imports, which could dampen global economic growth and energy demand.

Gold prices firmed and hovered near a record high hit in the previous session, as investors sought refuge in the safe-haven asset after U.S. President Donald Trump’s decision to impose fresh tariffs sparked concerns of a global trade war.

Kosmos Energy gained as it said that the first liquified natural gas production has been achieved at the BP-operated Greater Tortue Ahmeyim project, offshore Mauritania & Senegal.

Chemicals group Johnson Matthey was in the black as it announced that its chair of seven years Patrick Thomas will step down later this year, while its chief financial officer of four years will be replaced by the head of finance at DS Smith.

In broker note action, Spectris rose after an upgrade to ‘overweight’ at JPMorgan but BA and Iberia owner IAG flew lower after a downgrade to ‘neutral’ at Goldman Sachs.

Markets

AT 08:40

FTSE 100 8,731 +0.35%

FTSE 250 20,916 +0.52%

DAX 21,870 +0.37%

AT THE CLOSE

Dow Jones 44,303 (-0.99%)

S&P 500 6,025 (-0.95%)

NASDAQ 19,523 (-1.36%)

Fixed Income

UK 10-YR YIELD 4.477

Exchange Rates

GBP/USD 1.239

GBP/EUR 1.201

Commodities

Gold $2,896 +1.28%

Brent $75.00 +0.48%

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.