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FTSE 100 Gains Following Strong US Jobs Data

Thu, 21st Jun 2018

The FTSE 100 ended the day up by 0.31 percent, but was down slightly on the week, following some strong US Jobs data. The UK’s leading index gained 23 points on Friday, as other global equities also made gains.

The FTSE 250 closed up by 138 points, while Brent Crude added 01.2 percent, heading up to $77.59 a barrel, and gold climbed by 0.36 percent.

The strength came as the Five Star Mvoement and the League Party in Italy agreed to form a coalition, breaking the political deadlock. Meanwhile, Spanish Prime Minister Mariano Rajoy was ousted from his office following a vote of no confidence, with Pedro Sanchez named as his replacement.

The top performer in the FTSE 100 was Johnson Matthey, who added more than four percent, to reach 3,655p. The top loser was NMC Health, who shed 3.18 percent. First Group PLC was another company to put in a strong showing, surging late in the afternoon after it announced the terms of the termination agreement for former chief executive Tim O’Toole. The company plans to put its Greyhound bus arm under review, and is replacing their chief executive following the announcement of falling profits.

The strong US jobs numbers were better than expected. All eyes had been on the trade war, and economists had been questioning whether the US would be able to weather such a war if it were to happen. The jobs report proved better than expected, but there are still some metrics to be concerned about, such as weak wage growth.

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