The LSE braces for key economic data

On Friday, the better-than-expected US employment data report for March hampered investor sentiment. Nonfarm payrolls came in at 303K, while 214K was expected. The robust job market makes rate cuts less likely.

The FTSE 100 fell 0.8% on Friday, but still scored a 2.7% gain for the week, on the back of higher oil prices.

Global stock markets have started the week with caution as investors await key economic data from the US and the UK, and the European Central Bank's (ECB) interest rate decision. The FTSE 100 in London opened flat. Industrial metal miners saw gains of 0.8% as copper prices in Shanghai hit record highs due to supply cuts and optimistic demand forecasts.

Investors are particularly focused on the upcoming US consumer price inflation data set for release on Wednesday and Britain's GDP figures due on Friday. The ECB is widely expected to maintain interest rates at its monetary policy meeting.

In corporate news, CVS Group's shares fell by 1% after the veterinary services provider reported unauthorized external access to some of its IT systems, causing disruptions to its UK operations.

AstraZeneca, on the other hand, celebrated positive data in its rare neurological diseases portfolio, and Rio Tinto appointed a new chief commercial officer.

Investors are also keeping an eye on political developments, with UK Deputy Prime Minister Oliver Dowden hinting at a possible January 2025 election.

Things to read today:

• Tesla's comeback story (Wall Street Journal).
• Wall Street seeks AI winners beyond Nvidia in emerging markets (Bloomberg).
• Why the stock market keeps changing its story (Wall Street Journal).
• US banks warn Paris cost of dismissing traders will harm financial hub ambitions (Financial Times)