FTSE rallies, but gilt yields remain high, after weak US jobs data

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Update: The FTSE 100 extended its rally and Wall Street opened higher after weak US jobs figures made another interest rate cut by the Federal Reserve next week a virtual certainty.

The US’ tech-heavy Nasdaq jumped 1.2% to claw back some of Thursday’s losses, helped by Amazon, which posted third-quarter growth figures ahead of forecasts, while the S&P 500 added 0.9%.

In the last hour of trading in London, the UK’s blue-chip index traded 89 points higher, up 1.1% on the day but 0.6% down for the week.

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