{"id":182025,"date":"2025-10-01T07:49:16","date_gmt":"2025-10-01T07:49:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/182025\/"},"modified":"2025-10-01T07:49:16","modified_gmt":"2025-10-01T07:49:16","slug":"us-shutdown-lifts-gold-to-new-high-as-stock-markets-waver","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/182025\/","title":{"rendered":"US shutdown lifts gold to new high as stock markets waver"},"content":{"rendered":"

The London-listed American gas and oil producer is to move its primary listing to the New York Stock Exchange.<\/p>\n

The Alabama-based company\u2019s energy assets are primarily located in the US, where its executive team is based. Diversified Energy was founded by Rusty Hutson, in 2001. It began trading in London in 2017.<\/p>\n

Diversified Energy, which has had secondary listing on the NYSE since 2023, said: \u201cThe board has concluded that the US market is the natural long-term primary listing venue for the company and that moving to a US primary listing, while retaining a secondary UK listing \u2026 is in the best interests of its shareholders.\u201d<\/p>\n

About 65 per cent of the company\u2019s shares are held by US investors.<\/p>\n

ConvaTec invests \u00a3500m in UK hub\"ConvaTec<\/p>\n

ConvaTec develops and provides products for managing chronic conditions<\/p>\n

The FTSE 100 medical technology company is investing in a new research and development hub in Manchester as part of a \u00a3500 million commitment in the UK over the next ten years.<\/p>\n

ConvaTec said the facility, to open in 2027, will employ up to 250 people, many of whom are expected to transfer from the existing site in Deeside, north Wales, where it will continue manufacturing.<\/p>\n

The company develops and provides products for managing chronic conditions. It focuses on advanced wound care, ostomy care, continence & critical care, and infusion care.<\/p>\n

Tate and Lyle warns on profits\"Tate<\/p>\n

Tate & Lyle said it expected performance to improve in the fourth quarter<\/p>\n

The food ingredients group has warned that full-year revenue and profits will be lower than expected amid \u201ca slowdown in market demand\u201d as it updated investors ahead of interim results next month.<\/p>\n

\u201cWe now expect revenue and earnings before interest, taxes, depreciation, and amortization to decline by low-single digit per cent compared to the prior year,\u201d the company said.<\/p>\n

Tate & Lyle said near-term market demand would remain challenging but it expected performance to improve in the fourth quarter. The shares have fallen more than 33 per cent over the past year.<\/p>\n

Greggs shrugs off hit from hot weather\"A<\/p>\n

Sausage rolls at the counter in a Greggs in Caterham<\/p>\n

CHRIS RATCLIFFE\/GETTY IMAGES<\/p>\n

The bakery chain has reported that like-for-like sales at company-managed shops rose 1.5 per cent in its third quarter.<\/p>\n

Greggs said: \u201cWhile unusually high temperatures persisted throughout July, which held back performance during the month, trading improved in August and September in more stable conditions.\u201d<\/p>\n

Total sales rose 6.1 per cent in the 13 weeks to September 27. Year-to-date sales are up 6.7 per cent. The FTSE 250 group said the \u201cboard\u2019s expectation for the full year outcome is unchanged\u201d.<\/p>\n

Greggs shares have fallen 48 per cent since the start of the year to close at \u00a316.07 yesterday on the back of a profit warning and amid fears that the bakery chain has overexpanded.<\/p>\n

Traders are betting that they have further to fall. Financial Conduct Authority data shows that short-sellers are more bearish on Greggs than at any point since 2012 with 5.14 per cent of all its shares out on loan to those betting against it. The FTSE 250 group is the seventh-most shorted stock in London.<\/p>\n

UK house prices edge higher in September<\/p>\n

The average house price increased by 0.5 per cent month on month in September, after a 0.1 per cent monthly fall in August, according to the Nationwide Building Society.<\/p>\n

Property values increased by 2.2 per cent annually during the month, slightly up from 2.1 per cent annual growth the previous month.<\/p>\n

Across the UK, the average house price was \u00a3271,995.<\/p>\n

Robert Gardner, Nationwide\u2019s chief economist, said: \u201cDespite ongoing uncertainties in the global economy, underlying conditions for potential home buyers in the UK remain supportive. Providing the broader economic recovery is maintained, housing market activity is likely to strengthen gradually in the quarters ahead.\u201d<\/p>\n

A list of previous US shutdownsShutdown could be \u2018more disruptive than usual\u2019\"Jerome<\/p>\n

Jerome Powell, the Federal Reserve chair<\/p>\n

JIM WATSON\/GETTY IMAGES<\/p>\n

The US government shutdown \u201ccould prove longer and more disruptive than usual\u201d, analysts at Jefferies warned.<\/p>\n

The longest previous shutdown, during the last Trump administration, lasted 35 days and was estimated to have cost the US economy $3 billion, according to the Congressional Budget Office.<\/p>\n

Besides halting the release of Friday\u2019s closely watched September non-farm payroll report, the shutdown could affect critical data in the weeks ahead, including inflation and GDP data, creating a vacuum ahead of the Federal Reserve\u2019s rate-setting meeting at the end of October.<\/p>\n

Jefferies also warned of a freeze on regulatory activity at agencies such as the Securities and Exchange Commission, the Food and Drug Administration and the Environmental Protection Agency, delaying IPOs, drug approvals, and environmental permits.<\/p>\n

Jitters over US jobs market\"South<\/p>\n

South Korea\u2019s Kospi rose 0.9 per cent despite wider weakness in Asian markets<\/p>\n

AHN YOUNG-JOON\/AP<\/p>\n

Gold struck a fresh record high and Asian stocks wavered after the deadline passed for a US government shutdown that is expected to delay the release of crucial jobs data.<\/p>\n

Agencies warned that the shutdown would halt the release of the closely watched September employment report on Friday and lead to the furlough of 750,000 federal workers at a daily cost of $400 million. It raises concerns about the impact on the already slowing US labour market.<\/p>\n

Normally, markets shrug off shutdowns but this time is different, with the delay to the non-farm payrolls data and President Trump\u2019s threat to permanently lay off workers. It will increase concerns at the Federal Reserve about the jobs market and the chance of a US interest cut in October has now risen to 94.6 per cent, according to the CME Fedwatch tool, up from 90 per cent a day earlier.<\/p>\n

Gold climbed to $3,875 an ounce, hitting a record high for the third straight session. Japan\u2019s Nikkei dropped 0.9 per cent and Australia\u2019s ASX dipped 0.2 per cent, but South Korea\u2019s Kospi rose 0.9 per cent. Chinese markets are closed for the week-long National Day holidays.<\/p>\n

The FTSE 100 is forecast to open down 0.02 per cent after hitting a record closing high yesterday for its best quarterly percentage gain since the last three months of 2022. The index closed up 0.54 per cent at 9,350.43, and rose 6.7 per cent over the past quarter. Both S&P 500 futures and Nasdaq futures dropped 0.5 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"The London-listed American gas and oil producer is to move its primary listing to the New York Stock…\n","protected":false},"author":2,"featured_media":182026,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[9008,45,49,48,3242,3612,39845,3008,100,5268,44419,2511,696,182,91960],"class_list":["post-182025","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-as","tag-business","tag-ca","tag-canada","tag-gold","tag-high","tag-lifts","tag-live","tag-markets","tag-new","tag-shutdown","tag-stock","tag-to","tag-us","tag-waver"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/182025","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=182025"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/182025\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/182026"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=182025"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=182025"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=182025"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}