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European and London markets witness upswing amid US job data anticipation

EditorPollock Mondal
Published 2023-10-06, 04:20 a/m
© Reuters.

European and London stock markets have been experiencing a notable upswing on Friday. The FTSE 100 in London, Germany's DAX, and Paris's CAC are all part of this upward trend. The market movement comes amid anticipation of the US non-farm payrolls data for September.

The data, expected to show the addition of around 170,000 new jobs to the economy, suggests potential financial tightening and interest rate hikes. This anticipation has led to a mixed opening being forecasted for the US stock futures.

Meanwhile, in the UK housing market, a continuous monthly decline has been observed according to the Halifax house price index. There has been a significant £1,200 (£1 = $1.21) drop from last month's average cost. This marks another month of reduced prices in the UK housing sector.

In conclusion, while European and London stock markets are witnessing an upswing, the UK housing market seems to be on a downward trend. The upcoming US job data is likely to influence further market movements.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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