FTSE up over 2% on US jobs data boost; banks lead
LONDON, May 2 (Reuters) - Britain's FTSE 100 .FTSE ended over 2 percent higher on Friday as U.S. jobs data helped extend gains late in the session, with banks and mining shares leading the charge.
The UK's blue-chip index was up 128.2 points, or 2.1 percent at 6,215.5 -- its highest close since early January.
The market will close on Monday for a public holiday.
The U.S. government said 20,000 workers were lost from non-farm payrolls in April, against expectations for a fall of 80,000 and compared with a downward revised loss of 81,000 in March.
April still marked the fourth consecutive monthly contraction in the labour market, but the numbers suggested the world's largest economy was proving more resilient than expected.
Banks were the standout sector, with Royal Bank of Scotland, HBOS (HBOS.L: Quote, Profile, Research), Lloyds TSB (LLOY.L: Quote, Profile, Research), Alliance & Leicester (ALLL.L: Quote, Profile, Research) and Barclays (BARC.L: Quote, Profile, Research) rising between 2.4 to 6.6 percent.
In related news, private equity firm Texas Pacific Group is considering a bid for Royal Bank of Scotland's insurance arm, a source familiar with the matter said on Friday. The unit could be worth 8 billion pounds ($15.9 billion). [ID:nL02189861]
"You could feel the tension today before the U.S. non-farm payroll figures were released, as traders tried not to get too exposed," Ryan Kneale, an analyst at BetsForTraders.com said.
FTSE up over 2% on US jobs data boost; banks lead
LONDON, May 2 (Reuters) - Britain's FTSE 100 .FTSE ended over 2 percent higher on Friday as U.S. jobs data helped extend gains late in the session, with banks and mining shares leading the charge.
The UK's blue-chip index was up 128.2 points, or 2.1 percent at 6,215.5 -- its highest close since early January.
The market will close on Monday for a public holiday.
The U.S. government said 20,000 workers were lost from non-farm payrolls in April, against expectations for a fall of 80,000 and compared with a downward revised loss of 81,000 in March.
April still marked the fourth consecutive monthly contraction in the labour market, but the numbers suggested the world's largest economy was proving more resilient than expected.
Banks were the standout sector, with Royal Bank of Scotland, HBOS (HBOS.L: Quote, Profile, Research), Lloyds TSB (LLOY.L: Quote, Profile, Research), Alliance & Leicester (ALLL.L: Quote, Profile, Research) and Barclays (BARC.L: Quote, Profile, Research) rising between 2.4 to 6.6 percent.
In related news, private equity firm Texas Pacific Group is considering a bid for Royal Bank of Scotland's insurance arm, a source familiar with the matter said on Friday. The unit could be worth 8 billion pounds ($15.9 billion). [ID:nL02189861]
"You could feel the tension today before the U.S. non-farm payroll figures were released, as traders tried not to get too exposed," Ryan Kneale, an analyst at BetsForTraders.com said.
