December 3, 2022

Stocks close a tough quarter on economic worries

Stocks close a tough quarter on economic worries

LONDON – European markets advanced on Friday, gaining some respite from a hot week as the third quarter draws to a close.

pan europe Stokes 600 It added 1% in early trading, with oil and gas stocks rising 2.2% to lead the gains with all major sectors and stock exchanges entering positive territory.

Global stocks struggled in recent sessions amid fears of slowing growth and tightening monetary policy.

The Massive selling on Wall Street Follow on Thursday, with the three major averages dropping sharply as investors weighed expectations for future interest rate hikes decisions from the US Federal Reserve and their impact on the markets. The Standard & Poor’s 500 It hit a new low for the year. Stock futures were mixed in early trading early Friday.

Stocks in Asia Pacific It also fell on Friday after the overnight decline in the US, although new data showed that Chinese factory activity expanded unexpectedly in August.

Investors in Europe will focus on Friday on preliminary eurozone inflation figures for September, due at 10am London time, as economists expect annual consumer prices to rise to a new record high of 9.7%.

Volatility continues in UK markets after The Bank of England intervenes in the bond market On Wednesday in order to support financial stability in the country, after a historic sell-off in long-term gold bonds. Sterling pound It also hit an all-time low on Monday after the widely condemned new government’s fiscal policy announcements, but it has seen a significant rally in recent days.

In the US, several Federal Reserve officials are scheduled to speak on Friday afternoon, and markets will be watching closely for indications on the pace of future rate hikes from the central bank.