Proactive Investors -
- FTSE 100 climbs, up 31 points at 7,448
- UK economy contracts in May but beats City forecasts
- Pound hits 15-month high after weak US inflation data
US PPI eases as unemployment falls
The number of Americans filing for unemployment benefits fell by 12,000 from the prior week to 237,000 on the week ending 8 July, sharply below market expectations of 250,000.
The result aligned with recent data that underscored a stubbornly tight labor market in the United States, strengthening the likelihood of a 25bps rate hike in the Federal Reserve’s upcoming meeting.
The four-week moving average, which removes week-to-week volatility, fell by 6,750 to 246,750.
Jobs data came at the same time as US Producer Prices rose less than expected, edging 0.1% higher month-over-month in June, below forecasts of a 0.2% rise.
London's movers
A quick glance at some of today’s movers in London.
Risers
Predator Oil & Gas Holdings PLC (LON:PRDP)- up 43% to 13.9p
Shares rallied after its consultant’s wireline log analysis and reservoir characterisation of the MOU-4 well has suggested that three intervals are likely gas sands and these will now become the primary objectives in an upcoming test programme.
Seraphim Space Investment Trust PLC (LON:SSIT)- up 20% to 31.3p
Shares rocketed after it confirmed JPMorgan (NYSE:JPM) has been appointed to buy back shares and that many of its portfolio companies showed their potential with new funding rounds.
Trustpilot Group PLC (LON:TRST)- up 14% to 77.4p
Trustpilot shares gained 14% after the consumer review business lifted full-year earnings guidance in the wake of a strong first-half trading update.
Fallers
Aptitude Software Group PLC (LON:APTD)- down 16% to 285p
Shares fell after a trading update revealed annual recurring revenue growth declined and chief executive Jeremy Suddards is stepping down.
GreenX Metals Ltd (LON:GRXGR)- down 6% to 48p
Shares fell as it said it was raising A$4.2mln (£2.1mln) in a placing priced at a discount to its recent highs, having recently acquired an option to buy the Eleonore North gold project in eastern Greenland.