Equities firmed this week on Fed cut hopes and strong Europe, while oil slumped and gold hit fresh highs.
@ 15:38 – Friday 3rd October 2025 – London.
Markets:
- FTSE 100 gained about 2% this week to around 9,477, led by banks and miners as the index notched fresh record territory on growing rate-cut expectations.
- S&P 500 rose roughly 0.9% to near 6,720, supported by cooling inflation signals and resilient large-cap tech.
- Nasdaq Composite advanced about 1% to around 22,880, with AI-linked names underpinning sentiment.
- Euro Stoxx 50 climbed roughly 2.6% to about 5,650, helped by strength in industrials and energy.
- Bonds: UK 10-year gilts eased to ~4.7% on softer inflation expectations; US 10-year Treasuries hovered near 4.16% as markets price further Fed easing; German 10-year Bunds held around 2.7%, little changed.
- Commodities: Brent crude fell about 8% on the week to ~$64–65, on supply expectations and weaker refinery runs. Gold rose around 2% to ~$3,880/oz on haven demand and lower real yields, while Copper edged higher to ~$4.85–4.95/lb on steady industrial demand.
- FX: GBP/USD slipped modestly to ~1.35 on UK growth concerns; EUR/GBP was steady near 0.87.
Macro:
- US data continued to suggest moderating inflation, reinforcing expectations of another Fed cut, while the US government shutdown delayed some scheduled releases.
- In the UK, sentiment was mixed, but rate-cut hopes and sector rotation supported blue-chips despite tariff headlines.
- Europe benefited from improving industrial indicators and broadly firmer risk appetite.
Company News:
- AstraZeneca confirmed plans to elevate its US listing structure while retaining UK HQ and FTSE inclusion, a development closely watched for UK market competitiveness.
- Nvidia announced an expanded collaboration with Fujitsu on full-stack AI infrastructure, keeping AI capex in focus.
- No other notable earnings or guidance changes flagged across the current holdings/targets this week.
What to keep an eye on next week:
w/c 6th October
- US: key inflation and labour readings plus Fed commentary to shape policy path.
- UK: consumer and business sentiment updates; any Budget signalling monitored.
- Eurozone: manufacturing/output and sentiment surveys in focus.
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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