Wednesday,14 February 2024 09:29:22

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Wednesday,14 February 2024 at 09:29

UK & European markets were muted as investors assessed incoming corporate earnings and inflation prints in both the U.S. and the U.K.

Most Asia-Pacific markets fell, with the exception of Hong Kong, after hotter-than-expected U.S. inflation data sent Wall Street tumbling overnight.

Gold prices lingered near a two-month low, trading below the key $2,000-per-ounce level, as a stronger-than-expected U.S. inflation report prompted traders to trim bets for deeper rate cuts by the Federal Reserve.

Oil prices fell in early on Wednesday after a U.S. industry group reported crude stocks rose more than expected last week and as investors reined in expectations for interest rate cuts by the U.S. Federal Reserve.

In corporate news, Coca-Cola HBC was the standout gainer on the top-flight index, however, after it posted record profits for last year driven by surging sales and volumes for sparkling drinks and coffee combined with costs easing in the second half.

Markets

At 08:15

FTSE 100 7,548 +0.48%

FTSE 250 19,022 +0.52%

DAX 16,891 +0.06%

At the close

Dow Jones 38,272 (-1.35%)

S&P 500 4,953 (-1.37%)

NASDAQ 15,655 (-1.80%)

Fixed Income

UK 10-YR YIELD 4.084

Exchange Rates

GBP/USD 1.254

GBP/EUR 1.172

Commodities

Gold $1,989 (-0.16%)

Brent $82.73 +0.27%

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.