Sky shares leaped to an 18-year high yesterday as investors bet that a transatlantic battle for the TV group had further to run after Comcast’s $34bn (€29bn) bid trumped an offer from Rupert Murdoch made just hours earlier.

US stocks bobbed higher today as technology and consumer-focused companies regained a sliver of their losses from the day before.

Underlying inflation pressures pushed higher in October, even as falling petrol prices kept overall US consumer prices in check.

The US stock market posted its biggest loss this year yesterday after news that Federal Reserve officials suggested the central bank scale back its effort to keep borrowing costs low.