Global equities were broadly firmer this week as softer bond yields, steady macro data and resilient tech earnings supported risk sentiment.
This week @ 15:00 pm – Friday 5th December – London.
Markets:
- FTSE 100 rose 0.5% to 9,710, supported by falling gilt yields and BoE rate-cut expectations.
- S&P 500 gained 0.4% to 6,858, helped by softer jobs data and Fed cut hopes.
- Nasdaq Composite edged up 0.3% to 23,454, led by technology strength.
- Euro Stoxx 50 rose 0.2% to 5,695, as weak inflation kept ECB tightening at bay.
Bonds:
- UK 10-year gilt yield fell 3 bps to 4.44%, on dovish BoE signals and fiscal easing.
- US 10-year Treasury yield declined 3 bps to 4.10%, reflecting soft labour data and Fed cut expectations.
Commodities:
- Brent crude rose 1% to $63.30/bbl, supported by OPEC cuts and rate optimism.
- Gold gained 1.2% to $4,211/oz, on rate-cut expectations.
- Copper rose 1% to $11,580/t, driven by supply concerns.
FX:
- GBP/USD rose 0.8% to 1.335, on dovish BoE tone and UK Budget relief.
- EUR/GBP slipped 0.3% to 0.873, as euro softened ahead of data.
Macro & Central Banks:
- UK: PMI dipped; autumn Budget eased fiscal concerns.
- Eurozone: CPI and retail sales benign; GDP flat.
- US: ADP jobs and ISM lagged; non-farm payrolls and PCE due today. Fed expected to cut rates in December.
Companies:
- Alphabet Q3 revenue +16% to $102bn; net income +33%, AI investment ramp-up.
- Babcock International FY results: +11% organic growth, 30% dividend hike, £200m buyback.
- Netflix agrees $83bn takeover of Warner Bros Discovery.
What we will be keeping an eye on next week:
w/c 8th December
- US: FOMC 9–10 December (policy decision and press conference).
- UK: no MPC decision next week; BoE scheduled 18 December. ECB Governing Council 18 December.
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.
Important Information
This article is for information only and does not constitute advice or recommendation and you should not make any investment decisions based on it. The views and opinions of this article are those of Casterbridge at the time of writing and may change without notice. Any opinions should not be viewed as indicating any guarantee of return from investments managed by Casterbridge nor as advice of any nature. It is important to remember that past performance and the value of an investment, and any income from it, may go down as well as up and the investor may not get back the original amount invested.