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FTSE 100 marks time ahead of jobs numbers

by LLB Reporter
8th Oct 21 9:24 am

On Friday the FTSE 100 consolidated its gains from yesterday but investors appeared to be marking time ahead of the key US jobs report later.

AJ Bell investment director Russ Mould said: “A really weak number might just put the US Federal Reserve off tapering its support for the economy as expected in November.

“However, its scope to do so is being rapidly narrowed as inflation rises more quickly than expected, driven by soaring energy costs and post-pandemic shortages, and also proves to be more entrenched than the consistent message from central banks about ‘transitory’ inflationary pressures suggested.

“UK travel stocks made gains as the number of red-list countries under the Government’s traffic light system was slashed, the exception being TUI which is in the midst of its €1.1 billion rights issue.”

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