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The FTSE 100 advanced on Thursday, ahead of a delayed US jobs report, as investors digest Federal Reserve meeting minutes and Nvidia earnings from overnight. The FTSE 100 index rose 49.05 points, 0.5%, to 9,556.46. The FTSE 250 was up 46.28 points, 0.2%, at 21,458.52, and the AIM All-Share was 2.86 points higher, 0.4%, at 743.54. The Cboe UK 100 was up 0.4% at 954.56, the Cboe UK 250 was 0.1% lower at 18,547.28, and the Cboe Small Companies was flat at 17,504.97. The CAC 40 in Paris added 0.7%, while the DAX 40 in Frankfurt was up 0.9%%. The September nonfarm payrolls report, delayed by the more than 40-day government shutdown that ended last week, is expected to show the US labour market added 50,000 jobs that month, rising from 22,000 in August. The US Bureau of Labor Statistics will not publish an October nonfarm payrolls reading, it revealed on Wednesday. Instead, data from October will feature in the report for November. October’s nonfarms were originally scheduled for November 7. ‘BLS will not publish an October 2025 employment situation news release. Establishment survey data from the current employment statistics survey for October 2025 will be published with the November 2025 data,’ the BLS said. The BLS has set out a list of revised dates for economic data that went unpublished during the 43-day government shutdown that ended that ended last week Wednesday. The November nonfarms reading is now set for December 16, so only after the final Federal Reserve decision of the year which is on December 10. Sterling fell to $1.3067 around midday on Thursday, from $1.3076 at the time of the London equities close on Wednesday. The euro faded to $1.1519 from $1.1536. Against the yen, the dollar rose to JP¥157.45 from JP¥156.67. The yield on the 10-year US Treasury widened to 4.15% from 4.12%. The 30-year yield stretched to 4.76% from 4.74%. ‘The dollar rose on Thursday, reaching a three-week high after the BLS cancelled the October job figures release and the Federal Reserve’s October meeting minutes signalled growing reluctance among policymakers to deliver another rate cut this year. Market pricing for a December cut fell sharply from 50% to roughly 33%, offering support to the greenback,’ DHF Capital analyst Bas Kooijman commented. Federal Reserve officials were at loggerheads during the October Federal Open Market Committee meeting with ‘many’ suggesting it will be wise to leave interest rates unchanged for the rest of the year, minutes on Wednesday showed. While the FOMC approved a quarter point rate cut at the October meeting, the minutes showed several officials were against lowering the target range, while some supported the decision but could have also backed the status quo. In addition, the minutes showed participants expressed ‘strongly differing views’ about what policy decision would most likely be appropriate at the December meeting. While most officials judged further rate cuts will likely be appropriate as the FOMC moves to a more neutral policy stance over time, several indicated that they ‘did not necessarily view another 25 basis point reduction as likely to be appropriate’ in December. Several participants assessed that a further reduction could be appropriate in December if the economy evolved as they expected. But ‘many’ participants suggested that, under their economic outlooks, it would likely be appropriate to keep the target range unchanged for the rest of the year. In New York, the Dow Jones Industrial Average is called up 0.5%, the S&P 500 1.1% higher and the Nasdaq Composite up 1.5%. Nvidia shares were up 5.1% in pre-market trade in New York on well-received earnings. AJ Bell analyst Dan Coatsworth commented: ‘Crisis averted& for now. Nvidia’s results had the potential to be a make-or-break moment for global financial markets. Any disappointment could have fuelled concerns around an AI bubble poised to burst. ‘Fortunately, Nvidia has brought the party back to life, with suggestions that everything is hunky dory with all things AI. Demand for its products remains strong, and Chief Executive Jensen Huang continues to talk up AI like it’s the best thing since sliced bread.’ A barrel of Brent rose to $64.02 around midday on Thursday, from $63.37 at the time of the London equities close on Wednesday. Gold declined to $4,054.37 an ounce from $4,081.23. On the London Stock Exchange, Halma raised guidance after making ‘excellent progress’ in the first half of its financial year, with growth broadly spread across all sectors and regions. The safety products manufacturer said said pretax profit jumped 39% to £241.8 million in the six months to September from £174.0 million the year prior, on revenue that increased 15% to £1.24 billion from £1.07 billion. Halma now expects mid-teens organic constant currency revenue growth for the full year, upped from its previous aim of a low double digit rise. An adjusted earnings before interest and tax margin of around 22%, excluding one-off profit in the first half, is now forecast. It had previously predicted an adjusted Ebit ‘modestly above’ the middle of a 19% to 23% target range. Halma shares surged 12%. JD Sports fell 3.2%. The athleisure retailer, ‘mindful’ of consumer strife, expects annual profit at the lower end of market expectations. It anticipates full-year pretax profit before adjusting items to be within the lower end of current market expectations of £853 million to £888 million. This would be down from £923 million in financial 2025. Elsewhere in the retail sector, Dr Martens slumped 11%. AJ Bell analyst Russ Mould commented: ‘Dr Martens is taking baby steps to put the business on a profitable path. Its turnaround efforts are underway, but this could be a slow recovery rather than a giant leap back to normality. There are some glimmers of hope in its half-year results, with more products being sold at full price rather than discounted, losses narrowed, and a much stronger showing from the Americas which has previously been a problematic region.’ The London-based bootmaker said its pretax loss for the 26 weeks ended September 28 narrowed 62% to £11.0 million from £28.7 million. This was driven by a 6.3% drop in selling and administrative expenses to £208.8 million from £222.8 million. Dr Martens noted it ‘continued to embed a culture of tight cost control’ in the first half to help improve its bottom line. Revenue fell 0.8% to £322.0 million from £324.6 million. There was a 1.8% increase in revenue for the Americas, while EMEA - the company’s biggest segment - and APAC revenue saw drops of 2.3% and 1.9% respectively. Elsewhere, PZ Cussons jumped 15% as the owner of the Carex brand upped its annual outlook. The consumer goods firm now expects adjusted operating profit in the range of £50 million and £55 million for the year to May 31, up from its prior £48 million to £53 million range. Adjusted operating profit in financial 2025 amounted to £54.9 million. Still to come on Thursday is a flash eurozone consumer confidence reading at 1500 GMT. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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