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The Guardian - UK
The Guardian - UK
Business
Josephine Moulds

Dow Jones ticks up on US employment data

The Dow Jones ticked up 0.23% on opening after key jobs data out of the US beat expectations, raising hopes of a sustainable recovery in the world's largest economy.

The dollar rallied on the news, hitting a nine and a half month high against the yen. The euro dropped 1% against the dollar.

Oil slipped slightly after a strong rally on Thursday, dropping 0.5% to $124.94 a barrel. The UK markets were relatively unmoved by the data, with the FTSE 100 up just 0.27% at 5875 and the mid-cap index 0.53% higher at 11,520 points.

Fresnillo, the Mexican silver miner, was the biggest faller on the FTSE 100, off 64p at £17.60, after Deutsche Bank analysts downgraded the stock from "buy" to "hold" and cut its target price by 3% following recent results.

Broker comment also hit Smith & Nephew, which makes hip replacements and other medical products. Goldman Sachs cut its rating from "buy" to "neutral", driving the shares down 5p to 622p.

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