European stocks jumped higher on Friday, ending the month in the green after a turbulent week which saw oil prices reach new highs.
“A determination to drive home the message that interest rates will stay higher for longer appears to have finally wobbled investors.” “With 100 US dollar oil now looking inevitable, and interest rates likely to remain higher for longer to combat this inflationary impulse, the pressures on consumer incomes look set to increase further, and that’s before we even consider the impact of another US government shutdown,” he said.
It was a mixed start to trading in the US, with the S&P 500 up 0.15% and Dow Jones down 0.2% by the time European markets closed. In company news, shares in Severn Trent moved higher after the water supplier said it was seeking to raise £1 billion to help support a transformation plan which will create new jobs across the midlands.