17th August 2018 at 8:36 am
UK and European stocks opened mixed, following news the U.S. and China have agreed to hold their first trade talks since June next week.
Asia markets largely advanced, following a strong lead in from Wall Street and positive news on the U.S.-China trade front.
The dollar stepped back from 13-1/2-month highs against other major currencies as talks next week between China and the United States offered some hope that the world’s two largest economies will find a way to head off a full-blown trade war.
Oil prices fell, with U.S. crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products.
Gold prices edged higher in early trade as dollar held steady, but the metal remained on track to post its biggest weekly decline since May 2017.
In corporate news, things were pretty quiet, but Royal Bank of Scotland confirmed that chief financial officer Ewen Stevenson will step down from the board on 30 September, after he resigned in May. Katie Murray, his current deputy CFO, will become interim CFO while Stevenson’s permanent successor is sought.
Outside the FTSE 350, support services and construction group Interserve and its consortium have won a £105m project for Durham University. As part of the project, the consortium, made up of Interserve, fund and asset management firm Equitix and on-campus student accommodation developer and operator, Campus Living Villages UK, will design, build, finance and operate two new college facilities on a 51 year concession.
FTSE 100 7,559 +0.04%
FTSE 250 20,436 (-0.13%)
DAX 12,238 +0.01%
At the close
Dow Jones 25,558 +1.58%
S&P 500 2,840 +0.79%
NASDAQ 7,806 +0.42%
UK 10-YR YIELD 1.22
Gold $1,174 (-0.08%)
Brent $71.372 +0.02%
Receive The Market Report By Email
If you would like to receive the daily Market Report by email fill out your name and email address in the email sign-up form below and we will add you to our mailing list.