London stocks rise on softer US jobs data
Summarised from 2 outlets · Updated 2 Oct, 17:49 · Archive
The FTSE 100 index rose 0.3% to 10,461.95 after a weaker-than-expected US jobs report.
The FTSE 100 index ended the day up 33.68 points at 10,461.95, a rise of 0.3%. The gain came after the release of a softer-than-expected US jobs report, which prompted investors to reconsider expectations for further interest rate increases.
Weaker employment data from the United States typically signals a cooling economy, reducing the likelihood that the US Federal Reserve will maintain aggressive rate-hiking policies. This prospect of lower rates can support equity markets by making borrowing cheaper and making stocks more attractive relative to bonds.
How it is being reported
- London stocks up as soft US jobs report eases rate fearsIndependent Business · 2 Oct, 17:19
- London stocks up as soft US jobs report eases rate fearsEvening Standard · 2 Oct, 17:19
In this story: FTSE 100 · United States
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