Tuesday,11 February 2025 08:10:35

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Tuesday,11 February 2025 at 08:05

UK and European markets are heading for a mixed open as investors digest the latest raft of tariffs introduced by U.S. President Donald Trump. Global markets started the week on a positive note, appearing to shrug off Trump’s announcement over the weekend that he would impose a blanket 25% tariff on all steel and aluminium imports on Monday.

Since the announcement was made yesterday evening, however, markets have taken a downturn, with those in Asia-Pacific seeing mixed trade overnight and U.S. stock futures trending lower.

Asian economies that enjoy substantial trade surpluses with Washington are scrambling to negotiate favourable solutions with the U.S president to prevent being slapped with higher duties.

British oil major BP posted a sharp drop in fourth-quarter profit on weaker refining margins, announcing a $1.75 billion share buyback and a pledge to “fundamentally” reset its strategy.

The energy firm posted underlying replacement cost profit (RC profit) — used as a proxy for net profit — at $1.169 billion in the fourth quarter, compared with $2.99 billion in the same period of last year and with an analyst forecast of $1.2 billion, according to a LSEG poll.

Markets

AT THE OPEN

FTSE 100 8,781 +0.15%

FTSE 250 20,951 (-0.17%)

DAX 21,911 +0.57%

AT THE CLOSE

Dow Jones 44,470 +0.38%

S&P 500 6,066 +0.67%

NASDAQ 19,714 +0.98%

Fixed Income

UK 10-YR YIELD 4.474

Exchange Rates

GBP/USD 1.233

GBP/EUR 1.197

Commodities

Gold $2,913 +0.22%

Brent $76.52 +0.59%

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.