Good morning,
Our team compiles this daily market report from global sources to highlight key market updates and what they mean for your investment portfolio.
Dow Jones S&P-500 Nasdaq
+ 0.2% - 0.2% - 0.1%
___________________ __________________ _________________
The Impact: US government bond yields rose on Tuesday as markets reevaluated how quickly the US central bank may move to cut interest rates this year given signs of strength in the global economy. Treasury 10-year yields climbed to 4.66 per cent. The US dollar gain rose against all of its developed-market counterparts. Source: Reuters, AFR
European markets closed lower on Tuesday as investors followed developments in the Middle East. The regional Stoxx 600 index provisionally ended 1.6% lower with all sectors and major bourses in negative territory. Source: CNBC
On Monday, Air New Zealand finalised its largest agreement for sustainable aviation fuel (SAF) with Neste, a petroleum refiner based in Finland. This partnership aims to reduce carbon emissions and achieve the airline's net-zero carbon emission goals. Under the deal, Air New Zealand will purchase nine million litres of SAF, manufactured at Neste's Singapore refinery, and supplied to Los Angeles International Airport from April 1 to Nov. 30, 2024. The airline stated that this SAF is anticipated to lower carbon emissions by up to 80% throughout its life cycle compared to traditional fossil jet fuel, encompassing production and transport emissions. Source: Reuters
Pressure continues to mount on policymakers to scrap stamp duty on buying shares, in an effort to boost the attractiveness of the LSE, with a number of top fintech firms urging government action. The Unicorn Council for UK Fintech is just the latest name calling out the penalty that investors pay to back London-listed firms. However, government continues to resist the call as they rely heavily on the tax which brings in over Β£15 billion in revenue annually.
Earlier in the week we put out a trade idea to go long HHR -Hartshead Resources. Weβre still banging the table on this one, believing the North Sea gas play has been oversold and is finding its way back to familiar levels. See the link here to find out more but incredibly cheap at these levels in our opinion.
Subscribe to our free Morning Market Report email newsletter to stay on top of the markets.