Monday,19 February 2024 08:34:26

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Monday,19 February 2024 at 08:33

UK & European markets opened the new trading week on a negative note, changing course after largely positive sentiment last week.

Stock markets in China rose as traders returned from a long holiday on Monday to upbeat travel data, while Hong Kong stocks fell.

Gold prices rose to a nearly one-week high as a slight pullback in the U.S. dollar and escalating tensions in the Middle East lifted bullion’s safe-haven appeal.

Oil prices edged down morning as markets digested comments from U.S. Federal Reserve officials pointing to a more patient stance regarding potential interest rate cuts, in thin early trade on what is a public holiday in the United States.

In corporate news, US private equity firm Elliott Advisors confirmed it was considering a possible cash offer for struggling electrical retailer Currys.

Elliott, which bought the UK bookstore chain Waterstones in 2018, said in a statement there was "no certainty that an offer will be made for Currys" or the terms on which any bid might be made.

Currys on Sunday rejected Elliott’s approach, saying its £700m proposal “significantly undervalued” the chain.

Markets

At 08:15

FTSE 100 7,708 (-0.05%)

FTSE 250 19,202 +0.06%

DAX 17,080 (-0.21%)

At the close

Dow Jones 38,627 (-0.37%)

S&P 500 5,005 (-0.48%)

NASDAQ 15,775 (-0.82%)

Fixed Income

UK 10-YR YIELD 4.116

Exchange Rates

GBP/USD 1.262

GBP/EUR 1.170

Commodities

Gold $2,020 +0.38%

Brent $82.77 (-0.05%)

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.