St. James's Place Week Watch Shona Stephenson St. James's Place Week Watch Shona Stephenson

SJP Weekwatch 7th October 2024.

Thank you, David Gardner and St James’s Place Asia and Middle East, for sharing your valuable market insights with our community in the SJP 7th October Weekwatch.

Stock Take

  • Chinese and US markets rose last week despite geopolitical fears in the Middle East, while European and Japanese shares struggled.

  • Concerns about Israel and Iran caused oil prices to increase. Brent crude oil rose 9.2% to $78.23 a barrel, marking the largest weekly gain in almost two years, as low global oil supplies pushed prices up.

  • High energy prices contributed to the high inflation affecting the global economy after the pandemic. However, despite last week's increase, oil prices remain significantly lower than their peak of nearly $90 a barrel in April and far from the over $120 levels of 2022.

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