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Weak US jobs figures ease rate rise pressure

Federal ReserveFri: Weak US jobs data showed that hiring stalled over the last two months and that wages fell in September, once again leavng analysts believing the Fed would push back a rise in interest rates.

Markets rose in response. The FTSE100  was up 1% to 6,129.98 points.

Mining group Glencore, whose shares have been on a rollercoaster over its debt, rose 4.4%.

Banking stocks were up after the FCA said it planned to impose a deadline for customers to claim compensation for mis-sold payment protection insurance.

Experian declined after it was hacked, exposing the private information of T-Mobile customers and potential customers in the US.

FirstGroup reversed earlier gains after saying overall trading is in line with management’s expectations and its multi-year transformation plans continue to progress, despite a more challenging trading environment in some of the group’s markets.

Paragon Group advanced after buying Five Arrows Leasing Group through its subsidiary Paragon Bank for £117m.

 

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