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You can find the current article at its original source at http://www.theguardian.com/business/live/2016/mar/04/us-non-farm-payroll-jobs-stock-markets-business-live
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| Version 1 | Version 2 |
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| Stock markets hit eight-week high ahead of US jobs report - business live | Stock markets hit eight-week high ahead of US jobs report - business live |
| (35 minutes later) | |
| 8.54am GMT | |
| 08:54 | |
| Advertising giant WPP has flagged up the EU referendum as a clear risk to growth prospects this year. | |
| WPP boss Sir Martin Sorrell warned against “Don Draper-ish” optimism, given the threats to confidence. | |
| He cited the conflict in the Ukraine and the Middle East, and also the Brexit risk, telling the City that: | |
| “The somewhat surprising result of the UK general lection (at least to the pollsters), with the Conservatives winning an overall majority, has resulted in an uncertainty-stimulating EU referendum, now pegged for 23 June.” | |
| Shares in WPP are up 0.7% this morning, after it posted solid sales growth of 4.9% in the final quarter of the year. | |
| Related: Sorrell warns ad industry against 'Don Draper-ish' optimism as EU vote looms | |
| 8.43am GMT | |
| 08:43 | |
| Mining shares are now at a four-month high, having rocketed by 25% this year: | |
| Miners on a tear to end the week...gold enters bull market, as do Brazilian stocks pic.twitter.com/hkJ4gGeTNH | |
| 8.16am GMT | 8.16am GMT |
| 08:16 | 08:16 |
| European stock markets are rising at the start of trading, as investors get ready for his afternoon’s US jobs data. | European stock markets are rising at the start of trading, as investors get ready for his afternoon’s US jobs data. |
| In London, the FTSE 100 has gained 35 points, or 0.6%, to 6166 - which is nearly its highest level this year. | In London, the FTSE 100 has gained 35 points, or 0.6%, to 6166 - which is nearly its highest level this year. |
| Mining companies are topping the biggest risers, indicating renewed confidence in economic prospects, particularly in emerging markets. | Mining companies are topping the biggest risers, indicating renewed confidence in economic prospects, particularly in emerging markets. |
| Tony Cross of Trustnet Direct says: | Tony Cross of Trustnet Direct says: |
| London’s FTSE-100 is making another pitch higher in early trade despite yesterday’s suggestions that the bulls may be running out of momentum. | London’s FTSE-100 is making another pitch higher in early trade despite yesterday’s suggestions that the bulls may be running out of momentum. |
| Gains are broad based with natural resources stocks once again finding themselves at the top of the board with continued gains for underlying metals prices still lending support here. | Gains are broad based with natural resources stocks once again finding themselves at the top of the board with continued gains for underlying metals prices still lending support here. |
| 8.03am GMT | 8.03am GMT |
| 08:03 | 08:03 |
| World markets at a two-month high | World markets at a two-month high |
| After a very ropy start to 2016, world stock markets are now at a two-month high | After a very ropy start to 2016, world stock markets are now at a two-month high |
| That’s according to the MSCI World Market index, which tracks shares in 46 different countries. | That’s according to the MSCI World Market index, which tracks shares in 46 different countries. |
| As this chats shows, share prices are now back at early January levels, before the stock market turmoil began. | As this chats shows, share prices are now back at early January levels, before the stock market turmoil began. |
| The recent rally suggests that investor panic over a global downturn was overdone. | The recent rally suggests that investor panic over a global downturn was overdone. |
| Now, though, there is talk about whether the market is over-bought - particularly as this week’s manufacturing and service-sector data has been somewhat patchy. | Now, though, there is talk about whether the market is over-bought - particularly as this week’s manufacturing and service-sector data has been somewhat patchy. |
| Chris Weston of IG explains why the rally could fizzle out: | Chris Weston of IG explains why the rally could fizzle out: |
| There is an air of fatigue from the bulls in a number of developed equity markets, but they continue to grind higher.... | There is an air of fatigue from the bulls in a number of developed equity markets, but they continue to grind higher.... |
| But the market is in need of some injection of new news to provide an injection of inspiration and cause a new leg higher. It seems unlikely this inspiration comes from today’s US payrolls. | But the market is in need of some injection of new news to provide an injection of inspiration and cause a new leg higher. It seems unlikely this inspiration comes from today’s US payrolls. |
| 7.51am GMT | 7.51am GMT |
| 07:51 | 07:51 |
| Asian markets rise ahead of US jobs report | Asian markets rise ahead of US jobs report |
| Stock markets across Asia have rallied today as investors express optimism ahead of this afternoon’s America’s employment report. | Stock markets across Asia have rallied today as investors express optimism ahead of this afternoon’s America’s employment report. |
| Over in Tokyo, the Nikkei gained 0.3%. That pushed the Japanese index to a one-month high, up over 5% this week. | Over in Tokyo, the Nikkei gained 0.3%. That pushed the Japanese index to a one-month high, up over 5% this week. |
| Chinese traders showed some confidence too, pushing the Shanghai index up by 0.5%. | Chinese traders showed some confidence too, pushing the Shanghai index up by 0.5%. |
| Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities, reckons that investors are less worried about the global economy. | Norihiro Fujito, senior investment strategist at Mitsubishi UFJ Morgan Stanley Securities, reckons that investors are less worried about the global economy. |
| They are also anticipating that the US Federal Reserve will be reluctant to raise borrowing costs this year, given recent turbulence. | They are also anticipating that the US Federal Reserve will be reluctant to raise borrowing costs this year, given recent turbulence. |
| Fujito said (via Reuters): | Fujito said (via Reuters): |
| Globally, markets are rolling back the extreme risk-off trading they did in January and February. | Globally, markets are rolling back the extreme risk-off trading they did in January and February. |
| “Part of the reason is that the Fed seems to be easing its insistence on raising rates.” | “Part of the reason is that the Fed seems to be easing its insistence on raising rates.” |
| #Japan's Nikkei ends up 0.3% at 17014.78, highest level since Feb4. pic.twitter.com/eAyQ8OfTuB | #Japan's Nikkei ends up 0.3% at 17014.78, highest level since Feb4. pic.twitter.com/eAyQ8OfTuB |
| Shanghai Comp ends up 0.5% as #China's brokerages ease margin financing requirements ahead of party congress. pic.twitter.com/byoHawjON8 | Shanghai Comp ends up 0.5% as #China's brokerages ease margin financing requirements ahead of party congress. pic.twitter.com/byoHawjON8 |
| Updated | Updated |
| at 7.56am GMT | at 7.56am GMT |
| 7.33am GMT | 7.33am GMT |
| 07:33 | 07:33 |
| Introduction: It's US Jobs Day | Introduction: It's US Jobs Day |
| Good morning, and welcome to our rolling coverage of the world economy, the financial markets, business and the eurozone. | Good morning, and welcome to our rolling coverage of the world economy, the financial markets, business and the eurozone. |
| One more heave, chaps. After a heavy week for economic data, it’s the big one today - the US Non-Farm Payroll for February, which is due at 1.30pm GMT. | One more heave, chaps. After a heavy week for economic data, it’s the big one today - the US Non-Farm Payroll for February, which is due at 1.30pm GMT. |
| The NFP will show how many new jobs were created across America’s economy last month, and also show whether wages picked up or not. | The NFP will show how many new jobs were created across America’s economy last month, and also show whether wages picked up or not. |
| Although prone to later revisions, the Payroll is a crucial measure of the health of the US labo | Although prone to later revisions, the Payroll is a crucial measure of the health of the US labo |
| u | u |
| r market, at a time when worries over the global economy are pretty intense. | r market, at a time when worries over the global economy are pretty intense. |
| Economists predict that 195,000 Americans got hired last month, leaving the unemployment rate at an eight-year low of 4.9%. Earnings are tipped to rise by 0.2% month-on-month, down from a chunky 0.5% rise in January. | Economists predict that 195,000 Americans got hired last month, leaving the unemployment rate at an eight-year low of 4.9%. Earnings are tipped to rise by 0.2% month-on-month, down from a chunky 0.5% rise in January. |
| A surprisingly good, or bad, Payroll number could give the markets a shunt and renew concerns about a global recession. | A surprisingly good, or bad, Payroll number could give the markets a shunt and renew concerns about a global recession. |
| But as things stand, shares are expected to rise in Europe in early trading, with the main indices called up around 0.5%. | But as things stand, shares are expected to rise in Europe in early trading, with the main indices called up around 0.5%. |
| Our European opening calls:$FTSE 6155 up 25$DAX 9790 up 38$CAC 4435 up 19$IBEX 8809 up 42$MIB 18442 up 94 | Our European opening calls:$FTSE 6155 up 25$DAX 9790 up 38$CAC 4435 up 19$IBEX 8809 up 42$MIB 18442 up 94 |
| Also coming up today.... | Also coming up today.... |
| Japan’s central bank chief Haruhiko Kuroda has been testifying in Tokyo about monetary policy issues. | Japan’s central bank chief Haruhiko Kuroda has been testifying in Tokyo about monetary policy issues. |
| At 9am,, we get the final estimate of Italian GDP for the last quarter. It will probably confirm that the economy grew by only 0.1%. | At 9am,, we get the final estimate of Italian GDP for the last quarter. It will probably confirm that the economy grew by only 0.1%. |
| The latest UK car sales figures (for February) also land at 9am. | The latest UK car sales figures (for February) also land at 9am. |
| And in the City, we’re getting results from London Stock Exchange Group (LSE) and advertising group WPP. | And in the City, we’re getting results from London Stock Exchange Group (LSE) and advertising group WPP. |
| Traders will be looking for news about the LSE’s planned merger by Germany’s Deutsche Börse, which could bd disrupted by a counter-offer from America’s ICE. | Traders will be looking for news about the LSE’s planned merger by Germany’s Deutsche Börse, which could bd disrupted by a counter-offer from America’s ICE. |
| #LSE makes no comment in its results about speculation of a counter bid from ICE | #LSE makes no comment in its results about speculation of a counter bid from ICE |
| Updated | Updated |
| at 8.04am GMT | at 8.04am GMT |