In the week ending March 4, the advance figure for seasonally adjusted initial claims was 211,000, according to figures from the Department of Labor. US initial jobless claims on Thursday also suggested the US labour market remained tight. The previous month's figure was revised down from 517,000.įebruary's number was ahead of market consensus, according to FXStreet, of 205,000. The week has been dominated by news from the US, however.Īccording to the Bureau of Labor Statistics, US nonfarm payrolls rose by 311,000 in February, less than the 504,000 recorded in January. "A recession has gone from being an inevitability to possibly avoidable and the pound is reaping the rewards, trading close to 1.20 against the dollar and up almost half a percent on the day," said Oanda Senior Market Analyst Craig Erlam. FXStreet-cited market consensus had expected just a 0.1% rise in GDP. Gross domestic product grew by 0.3% in January, according to an ONS estimate, having shrunk by 0.5% in December. The pound ticked past the USD1.20 mark on Friday, lifted by fresh data from the Office for National Statistics that showed the UK economy grew slightly faster than expected at the beginning of 2023. The pound was quoted at USD1.2058 at the London equities close Friday, up compared to USD1.1926 at the close on Thursday. The Cboe UK 100 ended down 1.9% at 774.30, the Cboe UK 250 closed down 1.8% at 16,977.20, and the Cboe Small Companies ended down 1.0% at 13,801.00. ![]() The AIM All-Share closed down 1.4%, or 12.23 points, at 837.44 - finishing down 3.3% over the past five days. It was the blue-chip index's fourth-successive daily decline. (Alliance News) - Stock prices in London closed lower on Friday, as investors digest a week of US-centred data and its implications for the future of interest rates.
0 Comments
Leave a Reply. |