The pound has rebounded a little on Friday after Thursday's losses of more than 1%. The Bank of England's "dovish rate hike" on Thursday has left the UK currency under pressure, however, and any limp data next week - with data due on retail sales, house prices and industrial production - could see the sterling sell off deepen.
At the close of European equity markets, the pound is up 0.1% at $1.3074 against the dollar and 0.5% to €1.1261 against the euro. Meanwhile, the FTSE 100 has posted a new record close, even though it looked at one point on Friday, that UK stocks were tailing off.
US stocks were fractionally higher, gaining little traction from the latest US labour market data than showed non-farm payrolls increased by 261,000 in October. Analysts had forecast that 310,000 new jobs would be created during the month, but after just 18,000 were created during a hurricane-hit September, the rebound was welcome. The rate of unemployment fell to 4.1% from 4.2%.
- UK FTSE 100 7,559.25 +0.05%
- Dow 23,541.89 +0.11%
- S&P 500 2,584.38 +0.18%
- Nasdaq 6,743.91 +0.43%
- Nikkei 225 22,539.12 +0.53%
- DAX 13,482.25 +0.31%
- CAC 40 5,518.25 +0.14%
- Gold 1,268.94 -0.72%
- Oil WTI 54.80 +0.48%
Just Eat continues to deliver
The takeaway order website has had a terrific week - its shares gaining 7.5% over the five trading sessions - after delivering a strong set of third-quarter results and impressing investors with its outlook.
Summing up this week's activity on the Motley Fool investment website, Roland Head said on Friday that although the shares look pricey, rapid earnings growth means the price could be justified.
He goes on: "After all, analysts expected earnings per share to rise by about 40% this year and again in 2018. On that basis, a forecast price-earnings rating of 46 may not be too high."