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Thursday,25 June 2020 at 15:54

UK and European stocks were mixed as investors digested the latest economic forecasts from the International Monetary Fund (IMF) and a record spike in coronavirus cases in the U.S.

The U.S. dollar rose on safety buying as fears grew over a rapid rise in coronavirus infections in some U.S. states and as trade tensions between the United States and the European Union increased.

Oil prices reversed course and turned positive, despite record high U.S. crude inventories and worries that a rapid resurgence in Covid-19 cases could choke a revival in fuel demand.

Gold prices edged higher as a spike in coronavirus cases dented demand for riskier assets, although gains were capped by rival safe-haven buying of the dollar.

In corporate news, London Stock Exchange was a high riser as it appointed Anna Manz - currently chief financial officer of Johnson Matthey - as its new CFO with effect from 21 November. 

Embattled German payments company Wirecard announced this morning that it had filed for insolvency with a Munich district court following revelations that $2.1 billion had gone missing from its balance sheet. The company’s shares plunged by a further 74%.

On the downside, United Utilities was the biggest faller as its stock went ex-dividend.

Markets
At the close
FTSE 100 6,147 +0.38%
FTSE 250 17,112 (-0.23%)
DAX 12,222 +1.06%
At 16:45
Dow Jones 25,454 +0.03%
S&P 500 3,049 (-0.02%)
NASDAQ 9,916 +0.07%
Fixed Income
UK 10-YR YIELD 0.16
Exchange Rates
GBP/USD 1.240
GBP/EUR 1.105
Commodities
Gold $1,761 +0.03%
Brent $40.44 +0.42%
This report has been prepared for private circulation. 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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