London stocks finished firmly higher on Wednesday, recovering from earlier losses as a rebound in technology shares and stronger-than-expected U.S. employment data boosted investor sentiment.
The FTSE 100 rose 62 points to 9,777, while the FTSE 250 advanced 0.5%, in line with broader gains across European markets.
In Europe, Germany’s DAX climbed 0.4% and France’s CAC 40 added 0.1%, with investors encouraged by signs of resilience in the global economy following this week’s sell-off in AI and semiconductor stocks.
Across the Atlantic, U.S. indexes also traded higher, supported by renewed buying in technology names after sharp declines earlier in the week.
Markets scale back bets on U.S. rate cut after stronger jobs data
Money markets trimmed expectations for a U.S. interest rate cut next month after new data showed private-sector employment grew faster than forecast in October.
According to figures from ADP, private employers added 42,000 jobs last month, beating consensus forecasts of 30,000, suggesting continued resilience in the U.S. labour market.
Following the release, traders lowered the implied probability of a Federal Reserve rate cut at the next meeting to 63%, down from 69% yesterday, according to market pricing.
