| Dear *|FNAME|*
The attacks in Israel over the last weekend had caused initial stock market declines at the start of the week, driven by a surge in oil prices and investor concerns over the potential fallout from another geopolitical crisis. However, as the week progressed, those worries gradually subsided.
On Tuesday, there was encouraging news when US Federal Reserve officials indicated that recent increases in bond yields and their subsequent impact on economic activity might have reduced the need for policymakers to raise interest rates in the coming months. Nevertheless, on Thursday, renewed unease emerged as it was reported that US inflation had remained unchanged in September, holding steady at an annualized rate of 3.7%.
In the UK, the FTSE 100 concluded Thursday with a 2% increase for the week, driven by a surge in oil prices benefiting major energy companies. Additionally, mining stocks saw gains amidst speculation that the Chinese government might be considering additional stimulus measures. Official data revealed a marginal expansion of the British economy in August, although many analysts still anticipate a recession in the country in the near future. The latest projections from the International Monetary Fund indicated that the UK is expected to be the least robust among the G7 economies in 2024. |
