The blue-chip index ended October up 2.13% for the month, which is the largest one-month point and percentage gain since April 2021.

Inflation will return to the forefront this week, with eyes on the meetings of the Bank of Australia, the U.S. Federal Reserve and the Bank of England.

The Fed is expected to announce a reduction in its asset purchases. On Thursday, the Bank of England is expected to raise interest rates for the first time since the pandemic.

This Sunday opened in Glasgow the Cop26, which is held for two weeks in the Scottish Event Campus. This meeting is considered crucial for the future of humanity. "We have made reasonable progress at the G20 (...), but it is not enough," said British Prime Minister Boris Johnson. And he warned: "If Glasgow fails, then the whole thing fails.

Meanwhile, Washington and the European Union reached an agreement Saturday to lift additional tariffs on European steel and aluminum imports, ending dispute that started under the Trump administration.

Barclays stock lost 2.7% after it announced that CEO Jes Staley is to stand down following British regulators' investigations into his ties with Jeffrey Epstein.

 

Things to read:

Barclays’ chief Jes Staley to step down following Epstein investigation (Financial Times)

Fed Complacency Feeds Inflation (WSJ)

Boris Johnson Warns ‘One Minute to Midnight’ as COP26 Kicks Off (Bloomberg)