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Friday,16 July 2021 at 16:05

UK and European stocks struggled for direction as investors monitored economic data, corporate earnings and the spread of the delta Covid-19 variant.

U.S. stocks erased earlier gains to turn lower as traders digested a slew of earnings results and a new report on consumer spending that came in stronger-than-expected for June.

Oil prices fell with OPEC likely to add output to meet a potential revival in demand as more countries recover from the pandemic.

Gold priced lower.

In corporate news, Rio Tinto was weaker after it posted a 12% fall in quarterly iron ore shipments as storms and labour shortages hit its Pilbara operations in Western Australia.

Luxury goods maker Burberry fell even after it reported a sharp rise in first-quarter sales and maintained full-year guidance as younger customers were attracted to the brand. 

Markets
At the close
FTSE 100 7,008 (-0.06%)
FTSE 250 22,467 (-0.15%)
DAX 15,530 (-0.64%)
At 16:50
Dow Jones 34,890 (-0.28%)
S&P 500 4,349 (-0.25%)
NASDAQ 14,487 (-0.38%)
Fixed Income
UK 10-YR YIELD 0.630
Exchange Rates
GBP/USD 1.377
GBP/EUR 1.166
Commodities
Gold $1,811 (-0.98%)
Brent $73.80 +0.75%
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.
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