Market Commentary - October

Craig Hendry

Craig Hendry

Managing Director & Chartered Financial Planner

The FTSE 100 reached an all-time high on 12 October closing at 7,556.24. The index closed the month up 1.63% at 7,493.08. This is impressive given there has been a number of disappointing results from companies including GKN, GlaxoSmithKline and Whitbread (the owner of Costa Coffee and Premier Inn).

The Consumer Price Index measure of inflation hit a five year high reaching 3%. With the UK economy growing 0.4% between July and September it is likely that we will see the first interest rate rise in more than a decade at the Bank of England’s Monetary Policy Committee meeting in November. The consensus amongst analysts is the base rate will rise by 0.25% to 0.5%.

As consumer confidence hits all-time highs in the US, the Dow Jones has continued its trend of reaching record highs this year. In October the index broke its own record on a further 12 occasions taking the 2017 cumulative total 53 record highs.

Oil had a strong month as conflict in Kurdistan, meant Iraqi oil production was reduced. This has led oil to finish the month up 6.66% to US$61.37 per barrel.  

 31 October 20171 month6 months12 months
FTSE 1007,493.081.63%4.01%7.75%
Brent Crude (US$)61.376.66%18.64%27.06%
Gold (US$ per oz)1,271.45-0.65%0.25%-0.45%



Got a question?

If you would like to discuss anything contained in this article, please contact a member of our Wealth Team by email on or your usual local office Financial Planner.

Nothing in this communication constitutes advice to undertake a transaction and professional advice should be taken before investing. Any observations are purely commentary on markets.  This material is not investment research and the content should not be treated as an offer or invitation to buy or sell securities. Past performance is not a reliable indicator of future results and is no guarantee. The value of investments may fall as well as rise. Changes in exchange rates between currencies can cause investments or income to go up or down.