London close: Stocks manage small gains after US jobless claims
London stocks ended marginally higher on Thursday, recovering from earlier losses as investors assessed fresh signals on the health of the US labour market.
The FTSE 100 edged up 0.05% to close at 8,407.44, while the FTSE 250 gained 0.11% to finish at 19,504.37.
Currency markets were mixed, with sterling last rising 0.38% on the dollar to trade at$1.3305, while it slipping 0.03% against the euro, changing hands at €1.1710.
"Hopes of progress on trade deals were bolstered by reports that an agreement with India was near, leading to a strong opening hour of trading for US markets," said IG chief market analyst Chris Beauchamp.
"Wall Street continues its rebound from the Powell-panic earlier in the week, and the continued decline in the VIX points towards a relaxation of nerves for the time being.
"Still, until the deals are agreed, these gains remain fragile."
Beauchamp noted that hopes were high for Google parent Alphabet to report *some reassuring numbers" later in the global day.
"Stocks might be recovering but there’s still lots more bad news to come.
"This season’s earnings are providing an inkling, with Pepsi, Merck and American Airlines all sounding a warning about the US economy.
"Still, hope springs eternal, and the really bad news will only start to show up later in the year, meaning this season is likely to be the calm before the storm."
Fresh data paints mixed picture of US economy
New data released Thursday showed a mixed picture of the US economy, with a modest rise in jobless claims and a sharp rebound in durable goods orders, while geopolitical tensions continued to weigh on sentiment.
Initial unemployment claims stateside rose by 6,000 to 222,000 in the week ended 19 April, matching market expectations.
However, continuing claims fell by 37,000 to 1.84 million, their lowest level in two months, suggesting sustained strength in the labour market.
The four-week moving average of claims declined slightly to 220,250, while the insured unemployment rate held steady at 1.2%.
Meanwhile, durable goods orders surged 9.2% in March to $315.7bn, driven by a rebound in Boeing aircraft orders following disruptions from a labour strike.
Stripping out transportation, orders were flat, with notable gains in commercial aircraft and autos.
Core capital goods orders, excluding aircraft and defence, jumped 29.4% to nearly $115bn.
On the geopolitical front, Beijing dismissed reports of ongoing trade negotiations with the US and reiterated its demand for the removal of unilateral tariffs.
Tensions in Eastern Europe also persisted, with the US president criticising Ukrainian leadership and Russia launching a large-scale overnight attack on Kyiv.
Polish president Andrzej Duda was expected to urge compromise to end the conflict in a forthcoming interview.
Weir rises on solid first quarter, Unilever slips
On London's equity markets, Weir Group climbed 4.54% after reporting solid first-quarter demand driven by sustained mining activity.
The engineering group cited growth in both equipment and aftermarket orders, particularly for brownfield and sustainability projects.
Senior gained 3% after reaffirming its full-year guidance and reporting 3% revenue growth, supported by a 4% rise in aerospace sales.
Anglo American rose 2.6% despite reporting lower copper and platinum group metals production, as investors looked past the operational setbacks.
Hikma Pharmaceuticals edged up 0.95% after maintaining its full-year guidance, highlighting strong performance in its injectables division.
St. James’s Place advanced 1.82% following a sharp rise in first-quarter net inflows and improved client retention.
Relx added 0.91% on the back of revenue growth across all divisions, led by strong demand in its risk analytics unit.
Asos shares were up 1.29% after interim earnings came in ahead of forecasts, driven by strong domestic sales and margin improvements.
The retailer said it would remain agile in managing US tariffs.
On the downside, Unilever slipped 0.33% despite meeting sales expectations, as it flagged only a modest improvement in margins.
AJ Bell fell 0.38%, even after posting record assets under administration and double-digit growth in customer numbers, as investors reacted cautiously to its platform metrics.
Reporting by Josh White for Sharecast.com
Market Movers
FTSE 100 (UKX) 8,407.44 0.05%
FTSE 250 (MCX) 19,504.37 0.11%
techMARK (TASX) 4,455.74 0.76%
FTSE 100 - Risers
Weir Group (WEIR) 2,302.00p 4.54%
Ashtead Group (AHT) 4,108.00p 3.29%
Anglo American (AAL) 2,155.00p 2.67%
St James's Place (STJ) 931.20p 2.22%
Intermediate Capital Group (ICG) 1,840.00p 1.94%
Fresnillo (FRES) 1,004.00p 1.93%
Airtel Africa (AAF) 164.90p 1.48%
Severn Trent (SVT) 2,720.00p 1.42%
WPP (WPP) 561.20p 1.30%
BP (BP.) 362.20p 1.24%
FTSE 100 - Fallers
Legal & General Group (LGEN) 236.70p -5.73%
Hiscox Limited (DI) (HSX) 1,126.00p -3.18%
Bunzl (BNZL) 2,318.00p -2.85%
HSBC Holdings (HSBA) 827.30p -2.12%
Melrose Industries (MRO) 413.80p -1.69%
NATWEST GROUP (NWG) 468.70p -1.64%
Rightmove (RMV) 729.80p -1.59%
Smurfit Westrock (DI) (SWR) 3,150.00p -1.50%
Barclays (BARC) 289.60p -1.41%
Whitbread (WTB) 2,524.00p -1.37%
FTSE 250 - Risers
Indivior (INDV) 772.00p 11.08%
Senior (SNR) 128.60p 5.63%
Renishaw (RSW) 2,275.00p 3.41%
Close Brothers Group (CBG) 311.80p 3.25%
Currys (CURY) 103.30p 3.20%
Genuit Group (GEN) 362.00p 2.99%
Deliveroo Class (ROO) 140.00p 2.94%
Foresight Group Holdings Limited NPV (FSG) 373.00p 2.78%
NCC Group (NCC) 139.60p 2.49%
Syncona Limited NPV (SYNC) 90.70p 2.49%
FTSE 250 - Fallers
Inchcape (INCH) 645.00p -6.79%
Ocean Wilsons Holdings Ltd. (OCN) 1,360.00p -4.56%
Vesuvius (VSVS) 325.20p -4.30%
International Public Partnerships Ltd. (INPP) 111.80p -3.62%
Derwent London (DLN) 1,881.00p -3.33%
Hammerson (HMSO) 247.80p -3.28%
Wizz Air Holdings (WIZZ) 1,572.00p -2.96%
Mitchells & Butlers (MAB) 238.00p -2.86%
Bodycote (BOY) 461.60p -2.53%
Grafton Group Ut (CDI) (GFTU) 873.90p -2.50%