US jobs data sees Footsie post solid rise

Market report Perry Gourley

The FTSE 100 joined global stock markets in posting solid gains as a rebound in US jobs data and positive trade news helped boost sentiment.

London’s top flight closed up 44.93 points, or 0.61 per cent, at 7,446.87.

David Madden, market analyst at CMC, said: “The reasonably positive US non-farm payrolls report, combined with continued optimism surrounding the Us-china trade talks has helped stock markets.

“The US jobs report won’t upset the apple cart in terms of Federal Reserve monetary policy, and given the lack of negative news out of Europe today, sentiment was given a boost.” In stocks, housebuilders Persimmon, Barratt Developments and Berkeley Homes

came under pressure as Halifax figures showed house prices fell by 1.6 per cent month-onmonth in March.

Persimmon shares closed down 21p at 2,225p, Berkeley Group down 66p at 3,777p and Barratt Developments down 9.8p at 616p.

On the FTSE 250, GVC shares were on the rise after the bookmaker said it was on track to deliver double-digit growth in its online business this year, after it posted strong growth in the first quarter.

Net gaming revenue for online was up 17 per cent in the three months to 31 March. This comprised 16 per cent growth in sports betting, while gaming was up 20 per cent.

Chief executive Kenny Alexander said the results showed a continuing “strong trend” and represented an “excellent start to the year”.

Shares closed up 5p at 588p.