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Thursday,10 September 2020 at 16:07

UK and European stocks traded slightly lower after the European Central Bank held interest rates steady and said it expected the euro zone to suffer a smaller recession than it had feared.

The euro edged higher as traders braced for a European Central Bank meeting to gauge policymakers’ views on the common currency’s recent appreciation and its impact on inflation.

Oil prices slid after data showed U.S. crude stockpiles unexpectedly rose last week, stoking concern about a sluggish recovery in fuel demand as coronavirus cases continue to surge in many countries.

Gold rose, as the dollar retreated on weaker-than-expected U.S. jobless claims data and as the European Central Bank (ECB) kept its policy unchanged.

In corporate news, Morrisons retreated after it said first-half like-for-like sales rose 8.7% but revenue declined 1.1% and pre-tax profit was down 28.2%. 

Barratt, Persimmon and Taylor Wimpey all gained after the latest RICS survey showed house prices rose at the fastest pace for four years in August as buyers sought out properties with gardens or near green space.

Markets
At the close
FTSE 100 6,003 (-0.16%)
FTSE 250 17,579 (-0.09%)
DAX 13,213 (-0.18%)
At 16:50
Dow Jones 27,951 +0.04%
S&P 500 3,401 +0.09%
NASDAQ 11,188 +0.42%
Fixed Income
UK 10-YR YIELD 0.23
Exchange Rates
GBP/USD 1.266
GBP/EUR 1.082
Commodities
Gold $1,961 +0.77%
Brent $40.54 (-0.20%)
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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