top of page
Search

19/06/24 Briefing


The FTSE 100 and European stocks were in the green on Thursday as the Bank of Englandheld interest rates at a 16-year high. Markets in London have been buoyant since new data on Wednesday showed that inflation returned to the target rate of 2% in May – the first time it has hit Threadneedle Street's target since July 2021.

  • The FTSE 100 (^FTSE) rose 0.8%, while the DAX (^GDAXI) was up 0.9% and the CAC (^FCHI) headed 1.3% higher.

  • The pan-European STOXX 600 (^STOXX) was 0.9% in the green.

  • Across the pond, the S&P 500 (^GSPC) pointed up around 0.1% following the one-day break, after the index closed Tuesday's session by securing its 31st record close of the year. The tech-heavy Nasdaq Composite (^IXIC) was almost flat. The Dow Jones Industrial Average (^DJI) edged up a modest 0.2%.

  • After a holiday break on Wednesday, Wall Street looked set to continue its winning ways in 2024. Stocks' growth story this year has been largely driven by the excitement around AI's potential, and no company has captured the collective attention like Nvidia. Its stock was up more than 2.2% in early trade. It's up more than 170% so far this year.

  • While the UK held its interest rates, traders continue to bet on a Fed cut by September, according to the CME FedWatch tool. Initial unemployment claims released on Thursday showed dipped to 238,000 versus a consensus expectation of 235,000.

6 views0 comments

Recent Posts

See All

Comments


bottom of page