Friday,04 October 2024 16:34:27

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Friday,04 October 2024 at 15:31

UK & European stocks climbed higher after the latest U.S. jobs report soared past expectations.

Wall Street stocks were in the green early on as market participants digested a stronger-than-expected September jobs report.

Gold prices intensifies their bearish stance for the day, deflating to the vicinity of the $2,640 region following the publication of the US labour market report for the month of September.

U.S. crude oil is on pace for its best week since March 2023, after President Joe Biden indicated that the White House is discussing a possible strike by Israel on Iran’s crude facilities in retaliation for Tehran’s ballistic missile attack earlier this week.

In corporate news, Watches of Switzerland said it had bought Hodinkee, a specialist website for luxury watch enthusiasts, for an undisclosed sum.

The company said the deal was part of its plan to leverage growth opportunities and grab market share, “particularly in the fast growing US market”.

Headquartered in New York and founded in 2008, Hodinkee offers digital print and video content, limited edition watch collaborations alongside watch and jewellery insurance services. It has an audience of 22.2 million annual unique visitors to its website with more than one million social media followers, WoS said.

Markets

the close

FTSE 100 8,283 +0.01%

FTSE 250 20,895 +0.75%

DAX 19,131 +0.61%

16:30

Dow Jones 42,083 +0.18%

S&P 500 5,720 +0.33%

NASDAQ 18,036 +0.66%

Fixed Income

UK 10-YR YIELD 4.138

Exchange Rates

GBP/USD 1.311

GBP/EUR 1.195

Commodities

Gold $2,657 +0.07%

Brent $78.00 +0.34%

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.