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The biggest news of the morning was the Competition and Markets Authority's (CMA) announcement that it had found "fundamental concerns" with the housebuilding market.
A budding economic recovery and a later start to the Bank of England's interest rate cuts will support sterling over the coming weeks.
Anglo American is struggling from falling diamond and platium prices as well as instability in South Africa.
The UK’s major miners face multiple challenges. The first of these is operational – Glencore and Anglo American, two of London’s largest commodity outfits, have bled profits in 2023. For the former, adjusted EBITDA fell by 50 per cent year-on-year to $17bn in 2023 while Anglo American saw a net profit fall of 94 per cent. [...]
Asian markets were mixed as investors awaited inflation data, while oil prices extended their decline. The week ahead promises a flurry of retail and technology earnings reports, offering insights into sector performance and economic trends.
Persistent inflationary pressures are fuelling fears that the Fed will wait until the summer to start cutting interest rates.
Asian markets rose with Wall Street on Nvidia's AI FOMO. Oil prices fell, and China's new home prices dropped. Investors await Germany's GDP data and StanChart's earnings.
Nvidia, a leading chipmaker, shattered records by achieving the largest single-session market capitalization increase for a publicly listed company.
FTSE 250, which is more aligned with the UK's domestic market, was in the green around 0.27 per cent up, with Indivior's shares at +18 per cent.
The ECB and the Fed are more concerned about a premature easing in monetary policy than potentially squashing the economy.
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