US jobs point to no interest rate hike

London Stock ExchangeFri pre-close: London shares turned lower following weaker than expected US jobs figures.

Non-farm payrolls came in lower than expected at 151,000, against an expected increase of 190,000.

After yesterday’s quarterly inflation report from the Bank of England the US figures suggested a broader weakening of the global economy.

Analysts now expect fewer if any rate rises in the US against the four suggested by the Fed last year.

The FTSE 100 was about 45 points lower at 5,854 ahead of the close.

Last night, Hong Kong’s Hang Seng gained 0.6% to 19,298 while the Shanghai Composite and Japan’s Nikkei were lower, down 0.6% and 1.3% respectively.

Oil prices were slightly lower, with Brent down 0.35% at $34.35 and West Texas Intermediate was around $31.75.

Leave a Reply

Your email address will not be published. Required fields are marked as *

This site uses Akismet to reduce spam. Learn how your comment data is processed.