FTSE 100 live: London shares to open higher mirroring global peers; US nonfarm payrolls in focus

The latest updates on the FTSE 100 and London’s financial markets from City A.M.’s newsroom in the heart of the City of London.

Wall Street ends higher as the US Fed signals a dovish bias, with the Dow rising 0.85 per cent to 38,225.66, the S&P 500 gaining 0.91 per cent at 5,064.2, and the Nasdaq Composite up 1.51 per cent to 15,840.96. Tech led S&P gains, while materials lagged. 

Carvana’s stock surged by 33.8 per cent on an upbeat profit forecast, while DoorDash’s dropped 10.3 per cent due to profit guidance. Etsy’s shares slid 15.0 per cent after missing sales expectations, and Peloton fell 2.5 per cent on CEO resignation and job cuts. 

In Asia, Hong Kong’s Hang Seng Index surged by 2 per cent, on track for a weekly gain of 5 per cent, while markets in Japan and mainland China remained closed. 

The dollar index was on track for a 0.7 per cent weekly decline, its weakest since early March. The yen strengthened by 0.55 per cent to 152.80 per dollar, bouncing back from earlier lows. 

In commodities, US crude rose 0.22 per cent to $79.12 per barrel, while Brent crude was at $83.84, also up 0.22 per cent. Spot gold was at $2,301.01 per ounce, set for a second weekly decline. 

Labour has made early strides in local elections, seizing control of Hartlepool Council and retaining control of Newcastle upon Tyne, South Tyneside, and Sunderland City Council. 

Apple’s quarterly results beat expectations, prompting a 6 per cent surge in after-hours trading with a record share buyback program. They also raised their cash dividend by 4 per cent and approved a massive $110 billion stock repurchase program, their largest ever.  

Despite a slight dip in quarterly revenue, Apple’s CEO Tim Cook is optimistic about revenue growth rebounding in the current quarter, signalling potential resilience in the smartphone market 

Irish service sector growth slowed in April, notably in the Technology, Media & Telecoms sector. The AIB S&P Global Purchasing Managers’ Index (PMI) dropped to 53.3 from March’s 56.6, its slowest growth since January, but remained above 50, indicating continued expansion for over three years and two months. 

Traders await US nonfarm payroll data, expected to impact market direction, following Jerome Powell’s statements signalling potential downward interest rate changes.  

S&P Global will release services PMIs for the euro area and the UK. Companies like Trainline are preparing to update investors.