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Monday,10 January 2022 at 16:58

UK and European stocks closed lower with global markets on tenterhooks ahead of key U.S. inflation data this week and more comments from U.S. Federal Reserve Chairman Jerome Powell on interest rate hikes.

U.S. stocks sank with technology stocks under renewed pressure as investors anticipate higher interest rates this year.

Oil prices were largely steady as supply disruptions in Kazakhstan and Libya offset worries stemming from the rapid global rise in Omicron infections.

Gold prices edged higher despite U.S. 10-year Treasury yields hitting a two-year high, as traders hedged their positions against inflation and ongoing geopolitical risks.

In corporate news, Persimmon, Barratt, Berkeley, Taylor Wimpey, Bellway, Countryside, Vistry, Crest Nicholson and Redrow all slumped on news the government will seek an extra £4bn from property developers to fund cladding repairs on low-rise flats. 

Markets
At the close
FTSE 100 7,445 (-0.53%)
FTSE 250 23,001 (-1.50%)
DAX 15,768 (-1.13%)
At 16:55
Dow Jones 36,739 (-1.36%)
S&P 500 4,603 (-1.57%)
NASDAQ 14,648 (-1.92%)
Fixed Income
UK 10-YR YIELD 1.189
Exchange Rates
GBP/USD 1.356
GBP/EUR 1.198
Commodities
Gold $1,794 (-0.12%)
Brent $81.08 (-0.89%)
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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