Global markets faced a mixed start to the week as investors digested new data on hiring figures, consumer price inflation, and central bank meetings.
A recent survey by the Recruitment & Employment Confederation and KPMG showed a sharp slowdown in demand for staff, with numbers falling to their lowest level since August 2020. This trend comes ahead of upcoming changes to National Insurance announced by the Chancellor.
In other news, US advertising giants Omnicom and Interpublic are reportedly in talks for a £23bn megamerger. Meanwhile, Boohoo’s founder Mike Ashley has accused the company of being “egotistical” and destroying its business.
The markets also reacted to economic data from Asia and China. South Korea’s stock market fell 1.4% despite efforts to stabilize financial markets, while Chinese consumer price inflation decreased by 0.6% in November, pulling annual inflation down to 0.2%.
Central bank meetings are set to take place this week, with policymakers expected to discuss their economic policies for 2025. The Federal Reserve is also expected to announce its decision on interest rates next week.
Despite some market volatility, investors remain cautiously optimistic due to recent payrolls data showing a recovery in the US economy.
Source: https://www.telegraph.co.uk/business/2024/12/09/ftse-100-markets-latest-news-uk-hiring-reeves-oil-gold