The Saturday Edge – week ending 23 October 2026

10 minutes ago

4 min read

Your calm, plain-English look at what markets did this week and what's coming up. Week ending Friday 23 October 2026.

Week at a glance

Oil was the big story this week. Brent crude rose about 6% to around $117 a barrel, its third weekly gain in a row, as fears grew of further conflict between the US and Iran.

Most share markets fell. Technology and chipmaker shares were sold off, and Asia was hit hardest, with Japan's Nikkei and Hong Kong's Hang Seng both down more than 4%.

In the UK, the FTSE 100 fell about 1.8%. Weak September retail sales and a sharp drop in consumer confidence came ahead of Wednesday's Budget.

Gold fell around 4% and dipped below $4,000 an ounce, while the pound edged up against both the dollar and the euro.

Equities

Index	Friday close	Week	Year to date
FTSE 100	10,690.36	-1.8%	+7.6%
FTSE 250	24,237.39	-1.2%	+7.8%
S&P 500	7,623.68	-0.5%	+11.4%
Nasdaq Composite	25,955.34	-0.7%	+11.7%
Dow Jones	52,215.16	+0.4%	+8.6%
Euro Stoxx 50	6,068.22	-2.2%	+4.8%
DAX	25,181.65	-1.7%	+2.8%
Nikkei 225	62,693.16	-4.0%	+24.5%
Hang Seng	23,093.37	-4.5%	-9.9%
MSCI Emerging Markets	1,576.41*	-2.7%*	n/a

*MSCI Emerging Markets figures were provisional (taken before all markets had closed). A year-to-date figure was not available from our sources.

Bonds and rates

Measure	Level	Change and notes
UK 10-year gilt yield	5.36%	Down about 0.05 points (5.40% a week ago)
US 10-year Treasury yield	4.99%	Down about 0.11 points (5.10% a week ago)
Bank of England Bank Rate	3.75%	Unchanged. Next decision Thu 5 November
US Federal Reserve target range	3.75%–4.00%	Unchanged. Next decision Wed 28 October

Government bond yields fell slightly over the week as investors moved into bonds during Thursday's share sell-off. The Fed's last move was a 0.25-point rise on 17 September.

Currencies

Pair	Friday	Week
GBP/USD	1.3398	+0.5%
GBP/EUR	1.1945	+0.7%
US dollar index	101.81	About -0.2%

Commodities

Commodity	Friday	Week
Brent crude ($/barrel)	116.61	+6.1%
Gold ($/oz, spot)	3,996.90	About -4%
Silver ($/oz, spot)	53.90	About -6%
Copper ($/lb, COMEX)	6.46	-1.8%

Weekly changes for gold and silver compare slightly different price sources, so treat them as approximate.

Bitcoin

Bitcoin: about $81,330, up 0.2% over seven days (CoinGecko, Friday evening UK time).

Risk and sentiment

VIX (US volatility index): 19.74 shortly before Friday's close, down from 19.99 a week earlier.
CNN Fear & Greed index: 20, "Extreme Fear", from 22 a week ago.

Top 5 risers and fallers

FTSE 100 (Monday to Friday)

Risers	Week	Fallers	Week
Experian	+9.5%	Fresnillo	-15.1%
London Stock Exchange Group	+8.5%	Rolls-Royce	-13.8%
Rentokil Initial	+7.3%	Diploma	-12.7%
Smith & Nephew	+6.3%	Computacenter	-11.1%
Sage Group	+5.8%	Antofagasta	-10.4%

Miners and precious-metal producers fell as metal prices dropped. Rolls-Royce fell after reports about UK government support for a new engine programme.

S&P 500 (five trading days to Thursday 22 October)

Risers	Week	Fallers	Week
Hasbro	+19.1%	Flex	-22.1%
Equifax	+16.0%	Coherent	-17.1%
Accenture	+15.0%	Lam Research	-17.1%
Roper Technologies	+14.1%	KLA	-15.3%
Allegion	+13.3%	Moderna	-14.3%

A full Monday-to-Friday S&P 500 list wasn't available when we went to press, so this list covers the five trading days to Thursday's close. Chipmakers led the falls.

UK tax and regulation watch

Wed 28 October: the Autumn Budget, delivered by the Chancellor, John Healey, with the Office for Budget Responsibility's forecasts on the same day. Any tax changes will be confirmed then.
Sat 31 October: deadline for paper Self Assessment tax returns for 2025-26.
Sat 7 November: Making Tax Digital for Income Tax quarterly update deadline (for the period to 5 October). MTD has been mandatory since 6 April 2026 for sole traders and landlords with qualifying income over £50,000. HMRC says it won't give penalty points for late quarterly updates in 2026-27.
Wed 30 December: file online by this date if you want tax owed collected through your PAYE tax code (where eligible).
Sun 31 January 2027: online Self Assessment deadline and payment date for 2025-26. HMRC's 100-days-to-go reminder notes the tax-free allowance for crypto gains is £3,000, and Winter Fuel Payment recipients with income over £35,000 repay it through Self Assessment.

Week ahead

Tue 27 Oct: HSBC third-quarter results. US Conference Board consumer confidence (date expected).
Wed 28 Oct: UK Autumn Budget and OBR forecasts. US Federal Reserve rate decision (7pm UK time). Results from Microsoft and Alphabet (after the US close), GSK and Unilever.
Thu 29 Oct: European Central Bank rate decision. US third-quarter GDP (first estimate) and September PCE inflation. Bank of England money and credit figures. Results from Amazon, Shell and Lloyds.
Fri 30 Oct: Bank of Japan rate decision. US Employment Cost Index. Results from BP, NatWest and AstraZeneca.
Mon 2 Nov: Apple results.
Coming soon: Bank of England decision Thu 5 November, US jobs report Fri 6 November, UK GDP for September Thu 12 November.

Dates come from official calendars and company announcements and can change.

Sources

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ndgo edge™ provides financial coaching and education, not regulated financial advice. The Saturday Edge is factual information only, not a recommendation to buy or sell anything. Figures are as at Friday's close where available and may be delayed. Past performance is not a guide to the future.