Buoyed by the billions of dollars the US Federal Reserve is still pumping into the global economy under its quantitative easing programme, equity markets took heart from a sanguine message this week on inflation from Fed chief
That effect was still dominant yesterday. All of
Brent oil prices slipped 0.1 per cent to
"The events unfolding in
Rising oil prices may mean improved profits for major oil companies but could impose rising costs and higher inflation on the global economy.
Speculation the Fed will look past any rise in inflation as long as growth is improving pushed stocks higher, and European markets up another 0.1-0.3 per cent Friday.
"The goldilocks scenario of low rates and a slowly improving economy continues, with markets unmoved by continued geopolitical concerns," said
"Against that backdrop stocks look likely to remain underpinned, though trading today is likely to be cautious as we head into the weekend, given what could unfold ... in
If inflation does accelerate, then holding gold is a good way to hedge against declines in the value of currencies, and bullion has been another big beneficiary of events in
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