4th Aug 2025 11:46
(Alliance News) - European stocks remained higher on Monday around midday, while Wall Street is set to open higher amid plans to appoint a new US commissioner of labour statistics, following signs of a labour market slowdown.
The FTSE 100 index was up 30.07 points, 0.3%, at 9,098.65. The FTSE 250 was up 88.79 points, 0.4%, at 21,788.13, and the AIM All-Share was down 0.03 of a point at 757.13.
The Cboe UK 100 was up 0.4% at 909.23, the Cboe UK 250 was up 0.4% at 19,137.34, and the Cboe Small Companies was up 0.8% at 17,435.84.
In European equities on Monday, the CAC 40 in Paris gained 0.8%, while the DAX 40 in Frankfurt improved 1.2%.
"The FTSE 100 managed a cautious recovery on Monday morning after the tariff-related sell-off at the end of last week," said AJ Bell analyst Russ Mould.
"Concern about the ongoing ructions in global trade was compounded by the Trump administration's decision to fire the head of the Bureau of Labor Statistics off the back of weak jobs numbers – raising questions about the reliability of US economic data and about a potential slowdown in the world’s largest economy.
"Despite this, US futures were pointing to gains when Wall Street resumes trading later. Whether this holds will depend on the latest news from the Trump administration, the latest developments in the economy, with ISM Services PMI data on Tuesday due to give a signal here, and corporate earnings."
Stocks in New York were called higher. The Dow Jones Industrial Average and the S&P 500 index are called 0.7% higher, and the Nasdaq Composite up 0.8%.
US President Donald Trump said Sunday he will appoint a new economic data collector after firing the previous commissioner and accusing her of manipulating employment data to embarrass him after a new report showed cracks in the US jobs market.
"We'll be announcing a new [labour] statistician some time over the next three-four days," Trump told reporters.
US job growth missed expectations in July, figures from the Bureau of Labor Statistics showed Friday, and revisions to hiring figures in recent months brought them to the weakest levels since the Covid-19 pandemic.
Shortly afterwards, Trump removed Erika McEntarfer, the department's commissioner of labour statistics. Without providing evidence, he posted on social media that the jobs numbers "were RIGGED in order to make the Republicans, and ME, look bad."
The yield on the US 10-year Treasury was quoted at 4.24% around midday on Monday, unchanged from late Friday. The yield on the US 30-year Treasury was quoted at 4.84%, widening from 4.81%.
Auction Technology sank 20% on London's FTSE 250.
The London-based auction market operator and technology company has acquired Chairish, an online marketplace for vintage furniture and art, for USD85 million.
The deal is expected to generate "strong financial returns", the company said, adding "positively" to adjusted earnings before interest, tax, depreciation and amortisation in financial 2026. It also anticipates the takeover being accretive to adjusted earnings per share in financial 2027 and to generate a return on invested capital in excess of its weighted average cost of capital by financial 2028.
In the medium term, Chairish is expected to deliver double-digit revenue growth and adjusted Ebitda margins of around 30%.
Auction Technology also reported that third-quarter revenue growth has "slightly improved" against its first-half growth rate, due to a rise in shipping revenue for its Arts & Antiques segment. It now expects a margin of 42% to 43% before the impact of the acquisition.
Senior was down 5.3%.
The Hertfordshire, England-based engineering firm said pretax profit rose 28% to GBP22.8 million in the half year to June 30 from GBP17.8 million a year prior. Revenue increased 2.6% to GBP371.2 million from GBP361.7 million a year ago, or by 5% at constant currency.
"For our continuing business, our Aerospace division sales and profitability have grown, with good performance in the first half of the year. Our outlook for the full year is unchanged," said Chief Executive David Squires.
At the other end, Clarkson rose 7.1%.
In the six months to June 30, the shipping services provider said pretax profit fell by a quarter to GBP37.5 million from GBP50.1 million. Revenue declined 4.0% to GBP297.8 million from GBP310.1 million.
Brokers said the Clarkson results were above expectations. Peel Hunt said the underlying profit outcome beat its forecast of GBP38.0 million. Panmure Liberum said the figure was 2% ahead of its prediction.
Clarkson lifted its interim dividend by 3.1% to 33 pence from 32p, and expects its outcome for the year to be second half weighted.
The pound was quoted up at USD1.3275 at midday on Monday in London, compared to USD1.3247 at the equities close on Friday. The euro stood higher at USD1.1555, against USD1.1538. Against the yen, the dollar was trading lower at JPY147.83 compared to JPY148.12.
Brent oil was quoted lower at USD68.80 a barrel at midday in London on Monday from USD69.78 late Friday.
"Crude oil futures remained volatile as traders reacted to the OPEC+ decision and geopolitical risks. Potential disruptions to Russian crude shipments to India and other countries could support the market as Trump’s secondary tariff deadline approaches. If they materialize, the sanctions could limit the availability of Russian crude on the market and drive prices to the upside," said Naga analyst Frank Walbaum.
"At the same time, OPEC+ announced its decision to raise production by 547,000 barrels per day from September, as expected. The organization’s move to increase output aimed at reclaiming market share after prior cuts. Whilst the additional supply could weigh on prices, the organization's wait-and-see stance could limit downside risks as it remains prepared to change course if the market direction requires it, fueling some uncertainty."
Gold was quoted higher at USD3,354.22 an ounce against USD3,349.92.
Still to come on Monday's economic calendar, US factory orders data at 1500 BST.
By Emily Parsons, Alliance News reporter
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