IMF boosts its UK forecast
|Investors remain cautious across the globe, although the IMF has provided the FTSE 100 with some support this afternoon, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Wall Street drifts but FTSE 100 recovers from its lows
“Earnings from General Motors have been insufficient to lift Wall Street, but the FTSE 100 has managed to recoup some of its losses thanks to an upgrade to the IMF’s UK forecast. The institution expects more cuts from the Bank of England, a view echoed by various banks that expect rate cuts to continue next year. It wasn’t all good news for investors however, due to the prospect of more global tariffs hurting growth.”
VIX rise points the way to a choppy end to October
“October’s weakness in US stocks usually gets started around now, especially in pre-election years. Hopes that a Trump presidency will prove beneficial for the US economy in some ways were offset by the knowledge that a Republican win will also mean more disagreements over trade with both allies and foes alike. At least US GDP growth, and thus consumer spending, remains robust.”
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