Global stocks recover as US jobs data send positive inflation message

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Global stocks rose on Friday as US jobs growth slowed more than expected in June, but remained strong, via IrishTimesBiz

Among those to claw back some losses was Paddy Power Betfair parent, Flutter Entertainment, which climbed 1.9 per cent.

Among the banks, AIB was up 0.84 per cent, while Bank of Ireland was half a percentage point weaker. A trader described it as a “lacklustre” day for the financials. The downbeat investor sentiment lingered for the FTSE 100, which dipped 0.32 per cent on Friday after closing at its lowest level since early November on Thursday.

The Stoxx 600 Index was about 0.1 per cent higher by the close, paring its 0.5 per cent advance following the employment figures. It fell 3.1 per cent on the week – its biggest such decline since mid-March. Traders stuck to bets that the Fed will raise its benchmark interest rate this month to a 5.25-5.5 per cent range, but likely expect no more hikes beyond that.

 

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