Stock markets regain lost ground after suffering a shock at the start of the week


North Korea's testing of missiles continues to unnerve stock markets (Source: Getty)

European markets edged up on Friday, completing a steady climb after a dramatic fall at the start of the working week.

The FTSE 100 nudged up 0.11 per cent to 7,438.50 on Friday after starting at 7,411 on Tuesday.

Concerns over North Korea's missile testing and the effects of Hurricane Harvey prompted a large sell-off of equities as British workers returned from a long bank holiday weekend. The FTSE 100 touched a three-month low on Tuesday.

Read more: The pound has jumped after US job openings missed expectations

Across the pond, it was a similar profile for US stocks, which while still flying high on the year, are below the all-time record levels posted in July.

After touching an eight-year low against the euro on Monday, Sterling regained ground to finish the week above €1.09, having languished in the mid-€1.08 range against the pound.

The pound climbed against the dollar on Friday after official US figures showed the number of new job openings in the US fell to 156,000 last month, missing expectations.

After a day of lukewarm trading, the pound jumped 0.5 per cent against the dollar to $1.2994, while the dollar dived 0.4 per cent against the euro, to €0.8361.

Analysts had forecast 180,000 new job openings, down from July's figure. The unemployment rate also missed expectations, rising to 4.4 per cent, against the 4.3 per cent analysts had forecast.

And average hourly earnings were weaker than hoped for, with growth staying flat at 2.5 per cent, compared with forecasts of 2.6 per cent.

Hurricane Harvey making landfall provided a boost to oil prices as many parts of Texas were crippled by the storm. Brent crude finished the week at $52.76 a barrel.

Read more: Sterling hits eight-year low against the surging euro