Tuesday,09 April 2024 16:58:06

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Tuesday,09 April 2024 at 15:56

UK and European markets closed lower as investors look ahead to more key economic data this week, including U.S. inflation figures out Wednesday.

US stocks turned lower as investors bide their time until a key inflation report lands and potentially sheds light on the path of interest rates.

Crude oil futures fell for a second day as the recent rally paused while traders took stock of where the conflict in Middle East was heading.

Gold extended its record run, fuelled by buying momentum and geopolitical risks, while the spotlight shifted to the Federal Reserve’s policy meeting minutes and U.S. inflation data for insights into U.S. rate cut timeline.

In corporate news, HSBC Holdings nudged higher after saying it was selling its Argentina business to Grupo Financiero Galicia for $550m and will take a $1bn pre-tax loss in the process as it continues to pivot its operations towards Asia.

Markets

At the close

FTSE 100 7,934 (-0.11%)

FTSE 250 19,763 (-0.46%)

DAX 18,077 (-1.32%)

At 16:50

Dow Jones 38,689 (-0.52%)

S&P 500 5,178 (-0.47%)

NASDAQ 16,194 (-0.37%)

Fixed Income

UK 10-YR YIELD 4.033

Exchange Rates

GBP/USD 1.267

GBP/EUR 1.167

Commodities

Gold $2,342 +0.17%

Brent $89.70 (-0.52%)

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.