Market overview:


LONDON (ShareCast) - 1630:Close Equities ended the session clearly higher, bolstered by a more or less in-line US non-farm payrolls report for the month of May, which showed 217,000 new jobs were created. Nevertheless, the above data did mark the fourth consecutive month since November 1999-January 2000 during which job creation Stateside was at least 200,000. Gains on the FTSE 100 were led by asset managers, such as St.James's Place, Aberdeen Asset Management (Other OTC: ABDNF - news) and Schroders (LSE: SDR.L - news) , which benefitted from the improved sentiment towards the outlook for capital markets as a result of today´s US jobs report. On the other side of the ledger, the biggest losses were seen in consumer staples, with falls in Unilever (NYSE: UL - news) , Diageo (LSE: DGE.L - news) and Reckitt Benckiser (Xetra: A0M1W6 - news) . FTSE 00 up 44.72 to 6,858.21.

1530 US stocks were up after the US non-farm payrolls for May rose more than expected by analysts. Following the report, Barclays (LSE: BARC.L - news) said it expects the Federal Reserve to taper its monthly purchase pace by another $10bn at its June meeting and conclude purchases in October. "Our forecast also calls for the first rate increase in mid-2015," it said.

1418: Stocks across Europe have extended gains ahead of the opening bell in the States after the solid US jobs report. The FTSE 100 in particular is up 29 points at 6,842. Futures on Wall Street are showing a rise of 0.2-0.3% across the three main indices.

1330: US non-farm payrolls increased by 217,000, ahead of the consensus forecast of 210,000. However, the previous month's data was revised lower by 6,000 to 282,000. The jobless rate was unchanged at 6.3%, surprising economists' predictions of a tick-up to 6.4%.

1156: The International Monetary Fund has urged the Bank of England (BoE (Shenzhen: 000725.SZ - news) ) to prepare to rein in the housing market amid soaring prices. It also proposed a rise in interest rates first before action is taken to taper the BoE's quantitative easing programme.

1055: The Bank of England's quarterly inflation attitudes survey has found that 42% of people expect an interest rate rise over the next 12 months, the highest proportion since May 2011. The survey comes after the central bank's decision yesterday to keep interest rates unchanged at 0.5%.

0930: Seasonally adjusted, the UK's Office for National Statistics estimated the deficit on trade in goods and services to have been £2.5bn in April, against £1.1bn in March.

0842: UK stocks have begun moving moderately higher, led by Aggreko (LSE: AGK.L - news) . Shares of Centrica (LSE: CNA.L - news) are also on the move on the back of rumours that Qatar's sovereign wealth fund or EdF (Paris: FR0010242511 - news) may be interested in making a bid for the company, according to the Daily Mail and The Times. To take note of, The Times' Tempus column writes today that it may be a good moment to take some money off the table in shares of Smith&Nephew, as the market is already pricing in a 50% chance of a buyout bid finally coming through - not a bad guess. Acting as a backdrop, the latest US non-farm payrolls report will be released at 14:30, with trading likely to remain subdued until then.

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