London stocks closed firmly higher on Friday, propelled by softer-than-expected U.S. employment data that stoked hopes for an earlier pivot from the Federal Reserve on interest rate hikes. The FTSE 100 rose 0.5%, with the mid-cap FTSE 250 gaining 0.6% and the AIM All-Share up 0.5%
The moves capped a positive week for UK equities, with the FTSE 100 rising 0.9%, the FTSE 250 up 1.7%, and the AIM All-Share advancing 2.0%.
U.S. nonfarm payrolls increased by 175,000 in April, below forecasts of 243,000, while the unemployment rate ticked up to 3.9%. The softer labor market print fueled expectations the Fed could pause rate hikes sooner than anticipated.
In London, travel stocks outperformed, with Trainline surging 6.6% after the ticketing platform posted a 21% revenue jump and announced a £75 million buyback. InterContinental Hotels, however, slumped 2.5% despite reporting higher RevPAR.
Property consultancy Fletcher King was the top gainer on AIM, soaring 27% after projecting its annual profit would come in up to three times higher than the previous year on strong business momentum.
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