December 1, 2022

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Stocks close a tough quarter on economic worries

Stocks close a tough quarter on economic worries

LONDON – European markets closed higher on Friday but not enough to reverse losses over a hot month.

pan europe Stokes 600 It temporarily closed 1.3% higher, with construction stocks up 2.4% and media stocks up 2.3%. Household goods and utilities were steady during the session.

However, the last trading day in September saw the benchmark fall 7.8% during the month – its worst performance since June – and fell 6% during the third quarter.

Global stocks struggled on fears of slowing growth and tightening monetary policy.

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

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 posted a big rally in recent days and reached its highest level in a week on Friday.

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.

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