Spreadex Market Update

FTSE heads into the green despite worries of UK inflation rising to 5%



Europe sees a strong day as the FTSE (+0.46%), DAX (+0.27%) and CAC (+0.84%) all see green, even with the Bank of England predicting that inflation is going to reach 5% early next year, which would be the highest it’s been in a decade.

Rolls-Royce (+5.4%) leads the way in the FTSE thanks to a positive update from customer IAG (+4.1%), who reported seeing increased demand for transatlantic flights despite predicting large annual loss.

Jobs data out of the US pushes both DOW (+0.66%) and S&P (+0.57%) higher thanks to much better-than-expected figures.

Non-farm payrolls totalled 531,000 more jobs, over 100,000 more than forecast. Which in itself is already much higher than September’s figure of 312,000.

With news on CPI and PPI figures out next week, could we see a continue of the current 7 day in a row growth from the S&P?

Former UK chancellor of the exchequer, Philip Hammond is claiming that it is now unstoppable for the big financial institutions to adopt cryptocurrency characteristics.

This further boosts many claims that crypto is the future and that there is little doubt it will continue increasing in price for the foreseeable.

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