Source: Sharecast
The FTSE 100 closed up 0.3% at 10,461.95, having ended down 1.7% on Thursday after the 30-year gilt yield hit 6% for the first time since 1998.
Brent crude was weaker but back above $100 a barrel, down 0.9% at $101.95, while West Texas Intermediate was 2.1% lower at $90.91 following reports that European Union member states are discussing a French proposal to release additional diesel reserves after pressure from the Trump administration.
Investors were mulling data from the US Bureau of Labor Statistics which showed the economy added far fewer jobs than expected in September. Payrolls rose by 29,000, while the unemployment rate ticked up to 4.2% from 4.1%. Payrolls had been expected to increase by 84,000 last month, while the unemployment rate was forecast to be unchanged.
The data for August was revised down by 29,000 to show that 133,000 jobs were added, versus the 162,000 previously reported. Meanwhile, the change for July was revised down to show that 10,000 jobs were lost, versus a 21,000 gain previously reported.
The BLS said employment in construction, manufacturing and financial activities was little changed.
"Employment also showed little change over the month in other major industries, including mining, quarrying, and oil and gas extraction; wholesale trade; retail trade; transportation and warehousing; information; professional and business services; social assistance; leisure and hospitality; other services; and government," it said.
The labour force participation rate nudged up to 61.8% in September from 61.7% in August, while average hourly earnings rose just 0.1% on the previous month and 3% on the previous year.
Axel Rudolph, chief technical analyst at IG said: "The slowdown in job creation, combined with almost no increase in wages, suggests employment is becoming less of an inflationary threat and reduces the likelihood of further Fed rate hikes this year.
"While the weakness raises concerns about the health of the US economy, investors are focusing on the prospect that interest rates may not rise much further, giving equities a fresh boost."
In equity markets, JD Wetherspoon surged as it reported a slump in annual profits, weighed down by higher costs, but struck an upbeat tone on current trading.
The pub chain saw revenues rise 5.2% in the 52 weeks to 26 July, to £2.24bn, or by 4.2% on a like-for-like basis. However, pre-tax profits before separately disclosed items slid 28% to £58.6m following a 5.3% spike in costs, including wages, repairs and business rates.
Looking to current trading, and Wetherspoons said underlying sales had jumped in the nine weeks to 27 September by 8.6%, including a 7.7% uplift in August, on the back of the unusually warm summer weather.
Miners Antofagasta, Anglo American and Glencore were among the top performers on the FTSE 100, while Centrica gained as JPMorgan added the British Gas owner to its ‘analyst focus list’.
On the downside, IG Group plunged after the online trading platform warned that a tough third quarter had hit annual revenues. The blue chip spreadbetter said total revenues were expected to have fallen by around 14% in the three months to 30 September, to £240m.
It attributed the slide to lower over-the-counter revenue retention in its core derivatives business, which fell to 70% from the 80% averaged since the introduction of market-making optimisation measures at the end of the last year.
As a result, IG now expects total 2026 revenues growth to be in the mid-single digit percentage range year-on-year, down from guidance in May of growth of between 10% and 15%. Prior to the update, consensus had been for total revenues of £1.26bn in 2026, following a 7% uplift in 2025 to £1.12bn.
CMC Markets and Plus500 were also under the cosh. Plus500 ended down despite seeking to reassure investors with a brief statement saying that trading was in line with expectations.
Market Movers
FTSE 100 (UKX) 10,461.95 0.32%
FTSE 250 (MCX) 24,194.24 0.21%
techMARK (TASX) 6,151.85 0.28%
FTSE 100 - Risers
Halma (HLMA) 3,600.00p 3.93%
Antofagasta (ANTO) 3,802.00p 3.43%
Compass Group 11 (CPG) 29.73p 3.19%
Anglo American (AAL) 4,097.00p 2.86%
Glencore (GLEN) 561.40p 2.86%
BT Group (BT.A) 196.30p 2.86%
Whitbread (WTB) 2,440.00p 2.18%
Vodafone Group (VOD) 126.80p 2.18%
British Land Company (BLND) 389.40p 2.15%
IMI (IMI) 3,130.00p 2.09%
FTSE 100 - Fallers
IG Group Holdings (IGG) 990.00p -22.60%
Babcock International Group (BAB) 922.20p -2.84%
WPP (WPP) 372.70p -2.36%
ICG (ICG) 1,763.00p -2.11%
Lion Finance Group (BGEO) 13,260.00p -2.07%
Standard Chartered (STAN) 2,190.00p -1.66%
JD Sports Fashion (JD.) 79.72p -1.41%
AstraZeneca (AZN) 11,870.00p -1.35%
Tesco (TSCO) 469.00p -1.22%
Metlen Energy & Metals (MTLN) 48.60p -1.22%
FTSE 250 - Risers
Wetherspoon (J.D.) (JDW) 915.00p 12.55%
Oxford Biomedica (OXB) 544.00p 6.88%
Raspberry PI Holdings (RPI) 716.50p 4.45%
Oxford Nanopore Technologies (ONT) 223.20p 4.30%
Mitchells & Butlers (MAB) 294.50p 4.25%
Ceres Power Holdings (CWR) 430.00p 4.22%
Volex (VLX) 684.00p 4.11%
Seraphim Space Investment Trust (SSIT) 202.50p 3.63%
Pennon Group (PNN) 458.80p 3.43%
W.A.G Payment Solutions (EWG) 96.40p 3.32%
FTSE 250 - Fallers
RHI Magnesita N.V. (DI) (RHIM) 2,850.00p -6.56%
Plus500 Ltd (DI) (PLUS) 3,240.00p -5.15%
CMC Markets (CMCX) 632.00p -3.95%
Vistry Group (VTY) 241.60p -3.36%
Harbour Energy (HBR) 269.20p -2.60%
Watches of Switzerland Group (WOSG) 672.50p -2.11%
Chemring Group (CHG) 529.00p -2.04%
Halfords Group (HFD) 258.00p -1.90%
Premier Foods (PFD) 187.50p -1.88%
Worldwide Healthcare Trust (WWH) 367.50p -1.87%