Tech earnings lift global equities: BOE and US jobs data in focus next week.
@ 14:54pm – Friday 31st October 2025 – London.
Markets: (Monday 27 October 2025 pre-open to Friday 31 October at 2:30pm)
- FTSE 100 0.61% this week to 9,756, supported by gains in energy and financials.
- S&P 500 rose 1.7% this week to 6,890, led by strong earnings in tech and consumer sectors.
- Nasdaq Composite rose 2.7% this week to 23,827, driven by upbeat results from major tech firms.
- Euro Stoxx 50 rose 0.6% this week to 5,705, with industrials and financials contributing to gains.
Bonds:
- UK 10-year gilt yields fell 10.2 bps to 4.40%, as rate cut expectations firmed following soft macro data.
- U.S. 10-year Treasury yields rose 1 bps to 4.01%, reflecting mixed signals from economic data and Fed commentary.
Commodities:
- Brent crude fell 1.4% to 64.29 USD/bbl, as geopolitical concerns eased and inventories rose.
- Gold fell 2.7% to 4,004 USD/oz, with profit-taking after recent highs and a firmer dollar.
- Copper fell 0.4% to 4.90 USD/lb, amid modest corrections in North American markets.
FX:
- GBP/USD fell 0.3% to 1.311, as softer UK data and dollar strength weighed on sterling.
- EUR/GBP was flat at 0.872, with both currencies reacting similarly to central bank signals.
Macro:
- House prices rose 0.5% MoM in October. Consumer credit expanded by £1.69bn. BoE rate decision due 6 November.
- US: Fed cut rates by 25 bps to 3.75%–4.00%. Q3 GDP grew 3.0% annualised.
- Eurozone: Q3 GDP rose 0.2% QoQ. ECB held rates at 2.00%.
- Geopolitics: Episodic trade and tariff headlines supported risk flow into equities mid-week.
Companies: (holdings + targets)
- ASML Holding: Q3 net sales were €7.5bn, with EPS of €5.49. Gross margin held at 51.6%
- Alphabet Inc: Delivered Q3 revenue of $102.3bn, up 16% YoY. EPS rose to $2.87, beating forecasts.
- Microsoft: posted upbeat revenue (FY26 Q1) with robust Azure growth but flagged elevated AI investment and capex, which dented sentiment.
What to keep an eye on next week:
w/c 3rd November
- Key dates: Bank of England MPC (6 November); US non-farm payrolls and other US employment data (early November). Watch further big-tech earnings and central bank commentary for market direction.
Markets move constantly and the numbers in this update will change. This is a snapshot only, pulled together from a range of sources, and is meant as a quick guide rather than a precise record. It’s not investment advice and shouldn’t be used to make trading or investment decisions. If you need more accurate or specific data over a defined period, please get in touch with a member of the team who will be happy to help.
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