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Monday,22 November 2021 at 17:04
UKand European stocks pared losses to close mixed, as investors reacted to a fourth coronavirus
wave in the continent.
U.S. stocksgained at
the start of a holiday-shortened week, as traders considered the highly
anticipated renomination of Federal Reserve Chair Jerome Powell to the top role
at the central bank.
Oil prices rose but
remained under pressure from rising COVID-19 cases in Europe and a potential
release of Japanese and Indian oil reserves, raising concerns about both
oversupply and weak demand.
Gold retreated as
the dollar jumped after Federal Reserve Chair Jerome Powell was nominated for a
second term, driving expectations that the central bank may stay the course on
tapering economic support.
In corporate news, Vodafoneand BTGroup rallied after private equity firm KKR made a $12bn
takeover approach to Telecom Italia.
Royal Mail was
also on the front foot on expectations that they will benefit from this week’s
Black Friday and Cyber Monday promotions, as well as the lead-up to Christmas.
At the close
FTSE 100 7,255 +0.44%
FTSE 250 23,429 (-0.27%)
DAX 16,115 (-0.27%)
Dow Jones 35,908 +0.86%
S&P 500 4,730 +0.68%
NASDAQ 16,045 (-0.07%)
UK 10-YR YIELD 0.933
Gold $1,817 (-1.56%)
Brent $79.24 +1.07%
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.