Morning Note: A round-up of today's market news.
Market News
US equities moved lower last night – S&P 500 (-1.1%); Nasdaq (-1.9%) – with big tech stocks leading the way down. Bonds were firm , with the 10-year Treasury yield falling back to 4.10%. Gold remains steady at just above $4,000 an ounce.
In Asia this morning, equities also fell: Nikkei 225 (-1.2%); Hang Seng (-0.9%); Shanghai Composite (-0.3%). China’s exports unexpectedly contracted in October, the first drop in eight months. Shipments slipped 1.1% from a year earlier.
The FTSE 100 is currently 0.2% lower at 9,715. ITV is trading 15% higher following confirmation it is in preliminary discussions regarding a possible sale of its Media & Entertainment (M&E) business to Sky for an enterprise value of £1.6bn.
The Bank of England held interest rates at 4.0% in narrow 5-4 vote split but highlighted rates are likely on a gradual downward path and inflation risks are now more balanced. Sterling trades at $1.3110 and €1.1355. UK house prices hit a record in October, rising 0.6% to just under £300,000, Halifax said, showing resilience despite tax concerns.
Private companies are raising billion-dollar funds at twice the pace of US IPOs in 2025. So far, 21 venture-backed deals brought in a combined $108bn, compared with 10 IPOs that raised $13.3bn.
Source: Bloomberg
