FTSE leads global market surge, rejuvenated optimism for the US economy

The FTSE 100 participated in today’s worldwide stock markets surge, invigorated by rejuvenated optimism for the US economy.

Britain’s top-tier index advanced by 1.2pc, while the FTSE 250 surged by 1.6pc, as confidence was restored in the wake of an agreement regarding the US debt ceiling.

In the European sector, the French CAC 40 increased by 1.5pc, and Germany’s DAX ascended by 0.9pc, bolstered by relief that the globe’s biggest economy would avoid default, following the Senate’s legislation approval last Thursday.

Over in Wall Street, the Nasdaq Composite skyrocketed by 1.1pc after the market opened, while the diverse S&P 500 went up by 1pc, following a positive reception of the latest job report from the US Labor Department by traders.

The US reported the creation of 339,000 new jobs in May, nearly twice the forecasted amount. However, unemployment rates rose more than expected, hitting 3.7pc, and yearly wage growth moderately decelerated to 4.3pc from the previous 4.4pc.

Despite the mixed statistics, traders were reassured that the US jobs market was not overheating, maintaining the expectation that the US Federal Reserve would not hike interest rates during its forthcoming meeting from June 13-14.

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