Anticipation lingers before the unveiling of U.S. interest rates declarations
Stock Market Roundup: 28th June 2023
In the global stock markets, there was a mixed bag of results as investors braced for the US Federal Reserve's announcement.
In London, the FTSE 100 index closed 0.1% up, with Centrica among the top gainers, up 3.6%. Barratt Redrow, despite a decrease in pretax profit, managed to gain 1.9% on the FTSE 100. AIB was up 0.5% and Bank of Ireland was flat, while Ryanair remained unchanged. Glanbia's share price finished up 1.5% after announcing the sale of the US arm of SlimFast. Origin Enterprises gave up 1.8% in Dublin trading, despite being on a recent 'amazing run.'
Across the English Channel, the Cac 40 in Paris closed down 0.5%. The Dax 40 in Frankfurt ended up 0.1%. The Stoxx Europe 600 was little changed.
Euro zone government bond yields eased ahead of a US Federal Reserve rate cut, with Germany's 10-year bond yield down 2 basis points at 2.67%.
On Wall Street, the financials sector bounced back, with American Express advancing 2.7%. The FTSE 250 witnessed a significant movement as luxury carmaker Aston Martin advanced 7.8%.
The stock market saw some notable changes outside the usual listings. Chipmaker Nvidia fell 3.1% on the Nasdaq due to a report about China's internet regulator. The founder of Ben & Jerry's, Jerry Greenfield, quit the company due to a rift with parent Unilever.
PRS REIT gained 6.2% on the FTSE 250, as it entered into non-binding heads of terms to sell its operating subsidiary and potentially liquidate its assets. The sale of Glanbia's US SlimFast arm, along with certain other jurisdictions' businesses, was made to US packaged goods group Heartland Food Products. The financial terms of the Glanbia deal were not disclosed, but the company valued the US business at €44.1 million at the end of last year.
Games Workshop rose 1.2% on the FTSE 100, with a declared dividend of 85 pence, more than doubling total dividends declared so far this year.
As the markets continue to fluctuate, investors await the US Federal Reserve's announcement with bated breath. The outcome could potentially shape the trajectory of the global stock markets in the coming days.
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