Greater geopolitical risk and new inflation figures
Both the Stoxx Europe 600 equity index and Sweden’s OMXS30 large cap index closed last week in the red, losing 1.17% and 0.07% respectively from September 29 to October 6. Stocks meanwhile closed higher in the United States, after initially being pushed lower by strong employment numbers. The S&P 500 index ended the week up +0.48%. Signals of progress in negotiations related to the US auto workers’ strike also contributed to a positive stock market mood. On Monday, October 9, many stock markets (except in the US, where they were closed for a holiday) fell due to increased geopolitical risk but bounced back yesterday (October 11) on news that the US Federal Reserve may not need to raise key interest rates further.