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03 Sep, 2010 - World & FTSE Market Update
World Market Update
Financial markets soared on Friday as they welcomed a better-than-expected payrolls report in the US. US non-farm payrolls fell just 54,000 in August, much less than the 100,000+ jobs that analysts had expected to disappear. Futures indices indicated a surge of over 100 points at the opening bell on Wall Street and European shares rose to reach a three-week high. London bounced 1.13% higher, encouraging investor appetite for risk.
Technology stocks featured amongst the top movers this week, boosted by takeover talk. In foreign exchange trade, the dollar rose to 85.17 yen from 84.30 yen in New York late on Thursday. Manufacturing in China and the US also helped boost the markets this week.
Asian shares ended the week slightly higher as investors were reassured by positive economic data from the US and a third straight session of gains on Wall Street. Nikkei 225 index closed up 51 points at 9,114.
FTSE Update
The FTSE hit a four-month peak on Friday following a much smaller than expected fall in US non-farm payrolls.
Aggreko was the top riser, boosted by talks of a possible bid for the temporary power supplier from Swiss engineering group ABB.
The FTSE 100 was up 44 at 5,416, at 4pm on Friday on track for a sixth day of gains.
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