US economy only added 266,000 April jobs; markets rally; UK construction surges despite soaring costs – as it happened
Rolling coverage of the latest economic and financial news, as the recovery in the US labour market slows unexpectedly
- FTSE 100 closes at 14-month high as rally continues
- US jobs report for April much weaker than expected
- Economists had forecast 1 million new jobs
- Unemployment rate rises to 6.1%
- Leisure and hospitality added jobs but manufacturing employment fell
Earlier:
- UK construction growth near 6.5 year high...
- Iron ore and copper both at new peaks
- China reports strong trade growth in April
6.42pm BST
With European stock markets closed for the week, it's time to wrap up.
A quick recap....
Related: US economy picks up just 266,000 April jobs as hiring slows sharply
We knew this wouldn't be a sprint; it would be a marathon.
Quite frankly, we're moving more rapidly than I thought we would."
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6.38pm BST
The weaker US dollar helped to push the pound back to $1.40 this afternoon, for the first time in over two weeks.
It's hovering at $1.3990 right now, up a cent today.
The first minister and Scottish National party leader told reporters in Glasgow a majority has always been a very, very long shot" as the first vote counts showed surges in support for many sitting Labour, Conservative and Liberal Democrat constituency candidates.
With voters barraged by Conservative warnings that Sturgeon would press for a second independence referendum if she wins a majority, there was a record turnout in polling stations across the country as shy Tory voters turned out in larger than normal numbers.
Related: Nicola Sturgeon plays down SNP prospects after pro-UK tactical voting
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