UK shares up before key US job report

Global indices rose after the reassuring ADP job report in the US, which caused bond yields to ease slightly. Oil prices continued their slide on demand worries, which weighed on commodity stocks. The FTSE 100 added 0.5%.

UK shares opened in the green this morning ahead of the eagerly awaited monthly U.S. jobs report, as investors look for more clues about the Fed’s future monetary policy.

Among stocks, Metro Bank is up 4.2% after losing 25.7% yesterday on reports that the lender was looking to raise 600 million pounds in debt and equity.

Shares of J D Wetherspoon are down 3.6% despite posting higher sales for the first nine weeks of its financial year.

In other news, British house prices dropped at the fastest pace since 2009 in the past year. Halifax said house prices were 4.7% lower last month than in September 2022.

Things to read today:

Metro Bank sounds out rivals about buying part of its mortgage book (Financial Times)

Is The Economy Cooling or Revving Up? The September Jobs Report Will Offer Clues (WSJ)