Oddbean

FTSE 100 Live: Index surges as weak US jobs figures mean rate cut hope ========== The FTSE 100 index continues to make progress after posting a new record ahead of key figures on the health of the US economy. Trainline shares have surged on the ticketing firm’s annual results but Holiday Inn business IHG is trading lower despite robust quarterly figures. The April US employment report pointed to a cooler labour market than expected, with headline payrolls growth sub-expectations, and unemployment ticking higher, as earnings pressures continued to ease. Richard Flynn, managing director at Charles Schwab UK, said: “Investors will interpret today’s weak jobs report as a sign that demand is slowing in the labour market. The FTSE 100 has surged on the back of that slack US jobs report, in the hope that the labour market cooling means interest rate cuts could be coming sooner than previously thought. The London Stock Exchange has today fallen out of the top 20 global IPO destinations of 2024, having raised only as much money as Kazakhstan's stock market. The UK services sector increased at the fastest rate in nearly a year in April. Britain’s competition watchdog has said Pennon’s buyout of Sutton and East Surrey Water (SES) could hurt the regulator’s ability to compare water companies. Asda has refinanced its billion-pound debt pile as the supermarket seeks to put its finances on a stronger footing after the billionaire Issa brothers and private equity firm TDR saddled the firm with loans when they bought it from Walmart in 2021. #Ftse100 #UsJobs #InterestRates #LondonStockExchange #Ipo #UkServicesSector #Pennon #Asda https://www.standard.co.uk/business/ftse-100-live-03-may-trainline-results-intercontinental-hotels-update-bank-of-england-mortgage-interest-rate-b1155398.html