Wednesday,31 January 2024 16:55:40

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Wednesday,31 January 2024 at 16:55

UK and European stocks closed mixed as investors digested corporate earnings and awaited the latest monetary policy decision from the U.S. Federal Reserve.

The dollar dipped against the euro and yen as traders awaited a U.S. rates decision by the Federal Reserve.

Oil prices edged off on continued bearish fundamentals, following gains in the previous session amid an escalating conflict in the Middle East.

Gold gained but was on track to snap its three-month winning streak.

Iliad said on Wednesday that Vodafone had rejected its revised offer to merge the two companies’ Italian businesses.

The French telecoms firm said in December that it had submitted a proposal to merge the Italian businesses. The new offer would have given Vodafone €6.6bn in cash and a €2bn shareholder loan. Meanwhile, Iliad would have received €400m in cash and a €2bn loan.

"The Iliad Group is confident that the offer presented was the best possible business combination to benefit a struggling Italian market and telecommunications industry," it said.

Markets

At the close

FTSE 100 7,630 (-0.47%)

FTSE 250 19,357 +0.04%

DAX 16,893 (-0.46%)

At 16:48

Dow Jones 38,486 +0.05%

S&P 500 4,883 (-0.84%)

NASDAQ 15,285 (-1.45%)

Fixed Income

UK 10-YR YIELD 3.794

Exchange Rates

GBP/USD 1.272

GBP/EUR 1.172

Commodities

Gold $2,049 +0.66%

Brent $80.63 (-2.10%)

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.