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London rises on US jobs data | Ryanair figures soar

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Stocks rise as US payrolls grow ahead of forecast

London’s blue chip index rose sharply US job figures received a positive response and helped push Wall Street higher.

The FTSE 100 closed 132.69 ahead at 7,281.19, though it was 2.7% down over the week.

Just after the open, the Dow Jones Industrial Average was 0.8% higher, the S&P 500 was up 1%, and the Nasdaq Composite was up 0.8%.

Job creation in the US came in slightly ahead of consensus. US Department of Labor data showed that in seasonally adjusted terms non-farm payrolls grew by 315,000 in August. This was against economists expectations of 300,000 but much lower than the July figure of 526,000.

The unemployment rate unexpectedly rose last month to 3.7% falling short of expectations that it would remain flat at 3.5%.


8.15am: London higher

The FTSE 100 was trading 15.5 points higher at 7,163.98.


7am: Ryanair traffic

Ryanair flew 16.9 million passengers last month, breaking its record for the highest ever number it has carried in a single month for the second month in a row.

The Irish carrier said that the number of travellers was 52% higher than the 11.1 million travellers it carried during the same month last year, though this was during the pandemic.

Last month’s figure significantly higher than the 14.9 million passengers in pre-Covid August 2019.

It sold 96% of the seats on its aircraft last month, which is slightly below the 97% recorded during the summer months of 2019. It operated over 92,800 flights in August.


Global markets

London may take its lead from Wall Street’s more positive session yesterday.

Stocks in London are seen staging a slight recovery at the end of a difficult week, but the monthly US jobs report due later in the day could bring further market volatility.

The Dow Jones reversed its earlier losses last night as the major US indices wrapped up August in the red.

At the close, the Dow was up 0.46% and the S&P 500 added 0.3%, while the Nasdaq Composite shed 0.26%.

Japan’s Nikkei 225 index was down 0.1%. In China, the Shanghai Composite was down 0.1%, while the Hang Seng index in Hong Kong was down 1.1%.

Brent oil was trading at $94.12 a barrel, higher than $92.53 late Thursday but still more than $10 off the week’s peak.



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