REIT Prices Rise: CNBC’s UK Exchange Newsletter
Here’s a breakdown of the key information from the provided text:
Key News:
Eli Lilly Price hike: Eli Lilly has raised the price of its diabetes drug,Mounjaro,in the UK,potentially in anticipation of changes related to Donald trump’s tax and regulatory policies.
FTSE 100 Performance: The FTSE 100 has seen positive momentum, reaching a record closing high of 9,189.22 points on Tuesday, wiht JD Sports and Burberry as top performers.
sterling’s Value: Sterling has slightly increased in value against both the US dollar and the euro, as expectations for Bank of England rate cuts have decreased.
UK government Bonds: Expectations of the Bank of England maintaining higher interest rates are putting pressure on UK government bonds, with the 10-year gilt yield rising.
Quotes:
Simon French (Panmure Liberum): “I think the people trying to read across from Donald Trump’s shifting of taxation and setting a different set of rules and people falling in line, the idea that other mid-sized countries can replicate that, is for the birds.” (Essentially, he doubts other countries can easily copy Trump’s economic policies.)
Market Data (as of Tuesday):
FTSE 100: 9,189.22 points (record closing high)
10-year Gilt Yield: 4.72% (increased from 4.585%)
2-year Gilt Yield: 3.958% (increased from 3.897%)
* Bank of England Rate Cut Probability: Less than 50% likelihood of a further reduction from 4% this year.