Market updates for October 2019

October came and went with Brexit being extended again, and the opposition parties finally agreeing to Boris Johnson’s request to go to the polls with a general election now called for 12 December. The FTSE 100 ended October at 7,248.38 which was 2.2% lower than September’s closing figure. In the US, the Dow Jones 30 was 0.5% higher ending October at 27,046.23. Regarding currency, £ Sterling ended October at 1.29 US Dollars.  This was 5.3% higher than the closing figure at the end of September. Against the Euro, £ Sterling ended October at 1.16 Euros, which was 2.8% higher than the September closing figure. Inflation, as measured by the Consumer Prices Index including owner occupiers’ housing costs (CPIH), was 1.7% in September 2019 (this is September’s data which is reported in October).  This was unchanged from the previous month.  The 12-month rate for the Consumer Prices Index (CPI) rate which excludes owner occupied housing costs and council tax was 1.7% in September 2019, which was similarly unchanged from the previous month. The Bank of England maintained interest rates at 0.75% in October.  The last change was an increase in August 2018.