From Yahoo Finance: 2024-06-05 11:35:17

Growth in the US services sector boosted markets as signs of a cooling jobs market emerged. The FTSE and Wall Street were higher, with the US services sector returning to growth in May after a contraction in April. Traders are more optimistic on interest rate cuts later this year. The ECB is expected to announce its first rate cut in five years. Google faces a £13.6bn legal claim over advertising tech in the UK. Ocado and St James Place are set to exit the FTSE 100, with Darktrace and Vistry Group expected to join. The Bank of Canada cut interest rates to 4.75%, indicating an end to its aggressive policy. Paragon Banking rose as it doubled its interim profit. Bitcoin broke through $70,000 amid confidence in Fed interest-rate reductions. The UK services sector lost momentum in May, with easing business activity and new orders. Job growth and business confidence improved slightly, while input cost inflation fell to its weakest since February 2021.



Read more at Yahoo Finance: Wall Street and European stocks rise as US services sector returns to growth