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Tuesday,24 March 2020 at 08:30

UK and European markets rebounded as investors reacted positively to the U.S. Federal Reserve’s announced open-ended asset purchase program. Last night the U.K. Prime Minister announced a nationwide lockdown in response to the coronavirus pandemic. 


Stocks in Asia jumped as authorities ramped up stimulus measures to combat the economic impact of the global coronavirus outbreak. 

Oil prices rose, clawing its way higher mainly on the back of the slightly weaker U.S dollar that stemmed from the Fed’s unprecedented measures. 

Gold rose after the U.S. Federal Reserve’s unprecedented measures to help an economy reeling from the coronavirus pandemic halted a rush for cash. 

In corporate news, Rio Tinto will curtail operations in South Africa and Canada to comply with measures imposed by the countries' governments in response to the Covid-19 crisis. 

JD Sports Fashion said it was pulling guidance and delaying publication of full year results after the UK government ordered non-essential shops to close down in response to the Covid-19 pandemic. 

Dunelm Group updated the market given the “rapidly changing developments” around the Covid-19 coronavirus outbreak, confirming it had now closed its stores entirely, having previously planned to offer click and collect and deliveries for the vulnerable.

Markets
08:21 GMT
FTSE 100 5,180 +3.74%
FTSE 250 13,475 +3.04%
DAX 9,252 +5.85%
the close
Dow Jones 18,591 (-3.04%)
S&P 500 2,237 (-2.93%)
NASDAQ 6,860 (-0.27%)
Fixed Income
UK 10-YR YIELD 0.45
Exchange Rates
GBP/USD 1.165
GBP/EUR 1.075
Commodities
Gold $1,581 +0.96%
Brent $27.81 +0.82%
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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