Tuesday,13 February 2024 17:03:15

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Tuesday,13 February 2024 at 17:02

UK and European markets closed lower as investors assessed incoming corporate earnings reports and a key U.S. inflation print.

US stocks tumbled, sliding away from recent highs as investors digested a hotter-than-expected January inflation report that showed prices cooling slower than forecasts anticipated.

Gold prices fell below the key $2,000 per ounce level to a two-month low on Tuesday, as a stronger-than-expected U.S. inflation report tempered prospects of an early interest rate cut from the Federal Reserve.

Oil prices rose slightly on fears Middle East tensions could disrupt supply.

In corporate news, travel firm TUI rallied as it reported a positive quarterly underlying profit for the first time after a record performance in the first quarter, and reiterated its guidance for the full year.

The company booked underlying earnings before interest and tax of €6m for the three months to 31 December, moving into the black for the first time since the merger of TUI AG and TUI Travel PLC in 2014.

Markets

At the close

FTSE 100 7,512 (-0.81%)

FTSE 250 18,923 (-1.46%)

DAX 16,880 (-0.92%)

At 16:35

Dow Jones 38,381 (-1.07%)

S&P 500 4,970 (-1.02%)

NASDAQ 15,757 (-1.17%)

Fixed Income

UK 10-YR YIELD 4.154

Exchange Rates

GBP/USD 1.260

GBP/EUR 1.175

Commodities

Gold $1,994 (-1.25%)

Brent $82.71 +0.84%

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.