Best global stocks month since April

/ Source: Financial Times

World stock markets ended the week with a whimper, but investors were still able to draw a line on Friday night under the best month for global equities since April.

When final calculations are made on Saturday, the FTSE World index will register a rise of about 6.1 percent for October, the best showing since April’s 8.6 percent. The index is just below its highest levels for the year.

The Dow Jones Industrial Average gained 5.5 percent in October and the FTSE Eurotop 300 index is 6.7 percent higher. In leading European markets Germany’s Xetra Dax index gained 12.1 percent in dollar terms. France’s CAC 40 rose 8.1 percent and London’s FTSE-100 index was 7.6 percent higher.

In Asia, Tokyo underperformed, with the Nikkei 225 Average managing a 3.3 percent gain as investors scaled back market buying operations before the November 9 general election.

Wall Street again proved to be the global driver as U.S. investors cheered better than expected third-quarter corporate results, largely upbeat economic news and a resumption of big-league merger and acquisition activity.

Returns on U.S. and eurozone bonds slipped into the red.

In currency markets the dollar remained under pressure but the falls seen in September became more selective. Data showed Japan continue to intervene in the market to limit, or at least smooth, the yen’s appreciation.

Paivi Munter in London and Jennifer Hughes in New York contributed to this story.