ADVFN Morning London Market Report: Friday 6 December 2019

Share On Facebook

London open: Stocks edge up as investors eye payrolls report


London stocks edged higher in early trade on Friday as investors awaited the release of the latest US non-farm payrolls report.

At 0830 GMT, the FTSE 100 was up 0.4% at 7,167.82, while the pound was down 0.1% against the dollar at 1.3138 and 0.2% lower versus the euro at 1.1829.

Spreadex analyst Connor Campbell said: “Though the main focus for the markets at the moment is confusing trade deal situation, with the UK election as a local sideshow for British investors, this afternoon does provide some distraction in the form of the latest non-farm jobs report.

“The headline figure is set to jump from 128k to 181k month-on-month, with wage growth up 0.3% from 0.2%, and the unemployment rate steady at 3.6%.”

The November payrolls report, unemployment rate and average earnings are all due at 1330 GMT.

In equity markets, Associated British Foods was the standout gainer after the Primark owner said it still expects earnings per share growth for FY2020. In a statement ahead of its annual meeting, the company said its sugar division would benefit “materially” from the rise seen last year in EU sugar prices, while the grocery division was expected to see “another year of strong profit and margin growth”.

Phoenix Group Holdings was also in the green after saying it had made a £3.2bn cash and shares offer for UK life insurance closed book consolidator ReAssure Group.

British Airways and Iberia parent IAG was lifted by an initiation at ‘buy’ at Peel Hunt and an upgrade to ‘outperform’ at MainFirst, while Marks & Spencer was boosted by an upgrade to ‘neutral’ at JPMorgan.

On the downside, Glencore was under the cosh again, having suffered heavy losses on Thursday after the Serious Fraud Office said it was launching an investigation into suspected bribery at the miner.

Housebuilder Berkeley Group was trading lower after it said profits in the first half fell by nearly a third and Petrofac was hit by a downgrade to ‘hold’ at Jefferies.


CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch:

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20200120 08:27:11