Tuesday,23 January 2024 16:56:13

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Tuesday,23 January 2024 at 16:56

UK and European markets turned lower, losing an air of positivity seen in the previous trading session.

The yen languished ahead of a closely-watched policy decision by the Bank of Japan (BOJ) where expectations are for the central bank to stand pat on its ultra-loose monetary policy settings.

Oil prices were largely flat as investors monitored reports that Israel has proposed a two-month pause of fighting in Gaza, which would mark significant de-escalation in the war.

Gold prices were little changed as investors looked forward to more U.S. economic data this week that could set the tone for the Federal Reserve’s policy meeting next week.

Beijing is considering a possible rescue package to help bolster China's struggling stock markets, it was reported on Tuesday.

According to Bloomberg, citing unnamed sources, Chinese authorities are considering using around Y2trn (£220bn) to buy stocks in order to stabilise markets. It follows a report by state TV on Monday, which said the cabinet planned to take "forceful and effective measures" to stabilise markets and boost confidence.

Markets

At the close

FTSE 100 7,485 (-0.03%)

FTSE 250 18,992 (-0.44%)

DAX 16,627 (-0.34%)

At 16:50

Dow Jones 37,813 (-0.50%)

S&P 500 4,846 (-0.09%)

NASDAQ 15,345 (-0.09%)

Fixed Income

UK 10-YR YIELD 3.991

Exchange Rates

GBP/USD 1.265

GBP/EUR 1.169

Commodities

Gold $2,025 +0.23%

Brent $79.60 (-0.31%)

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.