Monday,10 March 2025 16:38:32

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Monday,10 March 2025 at 16:34

UK and European markets were trading lower, erasing gains notched earlier in the session to continue the volatility seen in global markets last week.

US Stocks dropped as the selling pressures that dragged Wall Street last week persisted, with investors worried about an economic slowdown after President Donald Trump didn’t rule out a recession with U.S. tariffs being implemented.

Oil fell as weak economic data from China compounded a tough outlook for demand, and wider markets carried a risk-off tone.

Gold prices are near steady and silver prices a bit firmer in early U.S. trading. However, a very wobbly U.S. stock market that is under selling pressure again today is keeping a price floor under the safe-haven metals.

In corporate news, Premier Inn owner Whitbread was a top gainer, having slumped on Friday after JPMorgan Cazenove downgraded the stock to ‘neutral’ from ‘overweight’ and slashed the price target to 3,000p from 4,400p as it took a look at European hotel stocks.

JPM said that while the shares have been weak for over a year now, down around 20%, the UK consumer seems to have deteriorated lately following the UK budget, with particular weakness in retailers weighted into spending from lower income demographics.

On the downside, Melrose was in the red, along with Rolls-Royce. Aerospace and defence groups were among the top gainers last week.

Markets

At the close

FTSE 100 8,597 (-0.95%)

FTSE 250 19,889 (-1.19%)

DAX 22,595 (-1.79%)

At 16:35

Dow Jones 42,340 (-1.07%)

S&P 500 5,653 (-2.04%)

NASDAQ 17,593 (-3.30%)

Fixed Income

UK 10-YR YIELD 4.614

Exchange Rates

GBP/USD 1.289

GBP/EUR 1.189

Commodities

Gold $2,902 (-0.23%)

Brent $69.56 (-1.06%)

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.