US stocks reach record high after strong jobs report
US stocks hit a record high on Friday after the Labour Department posted better than expected jobs figures.
The blue chip S&P 500 gained 0.31 per cent, up to 4,333, while the tech-heavy Nasdaq added 0.43 per cent to hit 14,585, both record highs.
US businesses embarked on a hiring spree last month as the American economy added 850,000 jobs, figures published by the US Labour Department today show.
The sharp rise builds on May’s 583,000 increase, caused by companies seeking to boost output to cope with surging demand.
The dollar strengthened against the pound in afternoon trading.
Read more: US labour market roars back to life as firms hire 850,000 workers in June
FTSE 100 dips as banks drive fall
London’s FTSE 100 inched down on Friday afternoon despite the City reclaiming its place at the top of Europe’s largest share trading centre rankings last month for the first time since Brexit.
The capital’s premier index dipped 0.19 per cent in the afternoon session. The fall was driven by sharp losses among bank stocks.
Read more: Post-Brexit rebound: London muscles out Amsterdam to reclaim trading top spot
Four of the biggest UK high street banks all notched losses today. NatWest fell 1.79 per cent, HSBC slipped 1.57 per cent, Barclays was down 1.29 per cent and Lloyds slid 1.24 per cent.
The mid-cap FTSE 250 was up 0.57 per cent, while AIM shares added 0.43 per cent in the afternoon session.
Winners and losers
Publisher Informa PLC was the day’s best performer, adding 3.39 per cent.
Industrial software provider Aveva came second, adding 2.07 per cent. British Land came third, gaining 1.98 per cent.
Standard Chartered was the day’s worst performer, losing 2.48 per cent, while NatWest and HSBC came second and third respectively.
Read more: Pound falls below $1.37 as US labour market rebounds sharply