FTSE 100 moves down on US job data

The FTSE 100 Index suffered a drop today (April 10th), as concerns over the latest data related to job creation in the US, and worries over the eurozone, pushed the markets down.

As of 16:42 BST, the London stock exchange had suffered a 1.75 per cent fall, a drop of just over 100 points, as investors reacted belatedly to the US job numbers published on Friday.

Data gathered for March revealed that just 120,000 new jobs were added to US payrolls over the last month, a rate of growth that represents a 50 per cent drop in the monthly increase previously seen from December to February.

The Easter holiday saw the UK market closed for trading over the four-day break, with today representing the first time the market was able to react to the news.

This latest downturn represents a worrying dip for private wealth management companies previously reliant on the traditional markets for gains.

It comes as the European indices endured a similarly downbeat day of trading with the CAC 40 and DAX slipping over one per cent each respectively amid concerns over the plight of Spain.

A recent bond auction in the region produced more disappointing results, prompting worries that Spain may not be able to keep up its debt repayments.

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