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U.S. jobs data heightens gloom, FTSE off 2.3 pct
Published in Saudi Press Agency on 03 - 04 - 2009


Britain's top share index closed
2.3 percent lower today, treating as grim U.S. jobs data
weighed on sentiment, with energy stocks and defensive food
retailers, cigarette makers and drugmakers sliding, Reuters reported.
The FTSE 100 ended down 95.30 points at 4,029.67 in choppy
trade, swinging from a low of 4,015.59 to a high of 4,132.93.
European stocks and Wall Street faltered after data showed
U.S. unemployment hit 8.5 percent in March - its highest level
since 1983, as employers slashed 663,000 jobs.
But the weak employment data refocused investors on the
fragile state of the global economy.
"These unemployment numbers are providing a bit of a reality
check. We've seen a correction after the rally this week," said
Philip Gillett, sales trader at IG Markets.
Energy stocks weighed heaviest on the index as the oil price
retreated on worries on the demand outlook.
BP, Royal Dutch Shell, BG Group, Tullow Oil and Cairn Energy
fell between 1.4 and 3.2 percent.


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