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Thursday,12 November 2020 at 17:02

UK and European stocks fell, retreating from some of the gains seen earlier in the week.

The dollar held steady as investors were cautious over expectations about a vaccine that is unlikely to avert a grim winter in the United States and Europe as the pandemic’s latest wave intensifies.

Oil prices rose on growing hopes that the world’s major producers will hold off from a planned supply increase.

Gold prices edged higher as concerns over the economic fallout from surging Covid-19 cases outweighed positive vaccine news.

In corporate news, GVC was also in the red after the Ladbrokes and bwin owner said it has rebranded as Entain and will commit to relying on nationally regulated markets for all revenue by the end of 2023. New chief executive Shay Segev unveiled the changes as part of his plan to transform and expand the business.

3i Group was also a high riser after the private equity and venture capital company reported a "strong" first half, with a total return of £1.14bn, or 15% on opening shareholders' funds, up from £767m or 10% year-on-year.

Markets
At the close
FTSE 100 6,338 (-0.68%)
FTSE 250 19,302 (-0.20%)
DAX 13,069 (-1.11%)
At 16:50
Dow Jones 29,267 (-0.44%)
S&P 500 3,559 (-0.37%)
NASDAQ 11,794 +0.07%
Fixed Income
UK 10-YR YIELD 0.36
Exchange Rates
GBP/USD 1.314
GBP/EUR 1.112
Commodities
Gold $1,879 +0.77%
Brent $44.22 +1.19%
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.
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