Friday,07 February 2025 16:55:03

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Friday,07 February 2025 at 16:51

UK and European markets edged lower, as corporate earnings, monetary policy and key U.S. jobs data remained in focus. The pan-European Stoxx 600 was down 0.04% at 2:07 p.m. London time, with major bourses in mixed territory. London’s FTSE 100 was down 0.21%, pulling back from an all-time high, while the Stoxx 600 autos and chemicals indexes led sectoral losses.

The Dow Jones Industrial Average fell 220 points, or 0.5%. The S&P 500 traded down by 0.6%, and the Nasdaq Composite slid by 1%. Friday’s losses wiped out most of the gains for the week by the major averages.

The stock market was already on edge before the Trump trade headline following some consumer sentiment and jobs data that pointed to pick-up in inflation and spiked the 10-year Treasury yield above 5%.

Data out Friday showed U.S. nonfarm payrolls rose by 143,000 in January, down from 307,000 in December and below the 169,000 forecast from Dow Jones. While the figures were weaker than expected, the U.S. unemployment rate dipped to 4% from 4.1%.

Victrex traded down as it held guidance after a solid first-quarter performance saw revenues rise 9% but warned trading conditions remain mixed, with medical revenues continuing to be subdued on a year-to-date basis, driven by ongoing industry destocking among its customers.

International Workplace Group rallied after an upgrade to ‘overweight’ at Barclays, while Wizz Air was boosted by an upgrade to ‘buy’ at HSBC.

Ashmore Group reported broadly stable assets under management at $48.8bn for the six months ended 31 December on Friday, as improved net flows and reduced redemptions helped to offset market volatility.

Markets

AT THE CLOSE

FTSE 100 8,700 (-0.31%)

FTSE 250 20,813 (-0.76%)

DAX 21,762 (-0.64%)

AT 16:45

Dow Jones 44,458 (-0.65%)

S&P 500 6,037 (-0.76%)

NASDAQ 19,556 (-1.21%)

Fixed Income

UK 10-YR YIELD 4.471

Exchange Rates

GBP/USD 1.239

GBP/EUR 1.199

Commodities

Gold $2,861+0.20%

Brent $74.31 +0.11%

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.