FTSE 100 Live: London stocks rocket to new record high after US jobs miss

FTSE 100 Live: London stocks rocket to new record high after US jobs miss underscores how weaker US labor data boosted rate-sensitive sentiment for UK blue chips. The FTSE 100 rose 175 points to 10,654, reaching a new high, while the FTSE 250 was up about 0.4% versus roughly 1.5% for the Footsie. Defence and defensives led gains, with BAE Systems and Babcock both up more than 6%, and aerospace names Melrose and Rolls-Royce also advancing. AstraZeneca, GSK, Tesco and Haleon were among defensive movers, alongside a miner rebound led by Antofagasta and strength in banks and utilities.

The market reaction followed the June US non-farm payrolls report coming in softer, which lifted expectations that the Fed would be less likely to hike rates. Analysts cited falling shorter-term US Treasury yields and a weaker dollar, alongside softer oil prices, as supporting risk appetite. US markets were also set to open higher, with Dow Jones futures up and the Dow opening near its record area around 52,709, up about 0.8% in early trade. The competitive picture remained broad across European markets as US futures trimmed gains later.