Proactive Investors -
- Blue-chip index 30 points lower
- DS Smith jumps 7% on Mondi (LON:MNDI) purchase
- Melrose, Entain (LON:ENT) and Rentokil top fallers
Non-farm payrolls beat guidance to increase by 275,000
Non-farm payrolls increased by 275,000 in February, beating out the market consensus of 200,000 jump.
February's unemployment rate came in at 3.9%, slightly higher than the 3.7% that was forecast.
It means unemployment in the US is at its highest rate since January 2022.
There were also revisions made to the previous two months, with January payrolls reduced to a rise of 229,000 and December's figures changed to 290,000.
Analysts have said today's figures further solidify the prospect of a June rate cut.
Wall Street appeared to react positively to the news in pre-market trading, with the Dow Jones now set to open flat.
The FTSE 100 also lifted slightly from Friday's lows, with the index now around 30 points lower.
FTSE 100 down ahead of US non-farm payrolls
The FTSE 100 is down 42 points as it braces for non-farm payroll figures from across the pond.
Read Our Preview: US Nonfarm Payrolls - What The Banks Are Saying - LiveSquawkhttps://t.co/x5uKZ2Z4Gs pic.twitter.com/MdHwmBkbq3— LiveSquawk (@LiveSquawk) March 8, 2024
Wall Street is expected to open slightly lower, with the Dow Jones forecast to slip 108 points as the markets eagerly awaited key non-farm payroll data in the US.
The data, which will reflect US unemployment levels in February, is expected to be steady with last month’s figures.
As per XTB’s Kathleen Brooks, a 200,000 increase in payrolls over February is expected, with unemployment remaining steady at 3.7%
Gender equality in finance industry moving at "snail's pace"
A report from the Treasury Committee released this International Women’s Day has provided a strong reminder of the sexism and harassment issues women continue to face in the City of London.
The report warned that improvements are happening at “a snail’s pace” as it calls for the end of an “era of impunity”.
Chair of the Treasury Committee Harriett Baldwin commented: "The UK’s financial services sector is the crown jewel of this country’s economy – admired by the international community and always takes pride in being ahead of the curve.
“This well-paid sector will only be able to maintain its competitive advantage if it is able to draw on the widest possible pool of talent.
“We also know that more diverse organisations perform better, so inaction is not only immoral but bad for growth and business.”