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Monday,14 September 2020 at 16:03
UK and European stocks ended the day mixed that came on the back of a resumption of coronavirus vaccine trials.
The dollar slipped against its major peers as a wave of M&A deals lifted the mood in global equity markets and investors looked ahead to an event-packed week which includes a Fed meeting and the appointment of a new Japanese premier.
Oil prices slipped slightly amid concerns about a stalled global economic recovery and worries over renewed Libyan supply, but were supported by an impending storm which has disrupted U.S. oil production.
Gold edged higher, helped by a weaker dollar and expectations that the U.S. Federal Reserve will reiterate its dovish monetary policy stance this week.
In corporate news, G4S surged after privately-owned Canadian rival GardaWorld announced a hostile 190p per share possible offer valuing the company at £2.96bn. The offer price is 30% premium to Friday’s closing share price and an 86% premium to the price prior to its first approach in June.
Oxford Biomedica was up after AstraZeneca and Oxford University confirmed that UK trials of their Covid-19 vaccine were resuming. The company has a supply agreement with AZN for the vaccine and its shares fell sharply last week when it emerged the trials were being halted.
At the close
FTSE 100 6,026 (-0.10%)
FTSE 250 17,677 +0.69%
DAX 13,193 (-0.07%)
Dow Jones 28,037 +1.34%
S&P 500 3,396 +1.67%
NASDAQ 11,100 +2.28%
UK 10-YR YIELD 0.20
Gold $1,959 +1.00%
Brent $39.55 (-0.60%)
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.