FTSE 100 ahead; Mixed open for Wall Street

• FTSE 100 up 25 points
• Construction growth best since 2014
• Mixed open for US stocks

2.45pm: Wall Street makes mostly positive start

The main indices on Wall Street have made a mixed but mostly positive start to Thursday’s session despite a higher than expected rise in US jobless claims.

Shortly after the opening bell, the Dow Jones Industrial Average was down 0.07% at 33,422 while the S&P 500 rose 0.32% to 4,093 and the Nasdaq climbed 0.92% to 13,815.

Back in London, the FTSE 100 had lost a little momentum but was still up 25 points at 6,910 at around 2.45pm.

1.40pm: US jobs data surprises

More Americans were seeking unemployment benefit last week than expected.

The US weekly jobless claims came in at 744,000, a rise of 16,000 on the previous week and much higher than the forecast fall to 680,000.  On top of that the previous week’s figure was revised up by 9,000 to 728,000.

The unemployment rate was steady at 2.6% for the week.

US Weekly Initial Jobless Claims Report – DOLhttps://t.co/tRHpu7676z pic.twitter.com/XUQUbAu0H5

— LiveSquawk (@LiveSquawk) April 8, 2021

So far there has been little market reaction, with the Dow Jones Industrial Average flat and the Nasdaq and S&P 500 moving higher.

The FTSE 100 is up 30.57 points or 0.44% at 6915.89.

Not a great jobless claims report. 744K. More than expected. Up from last week. And last week’s number was also revised higher.

— Paul R. La Monica (@LaMonicaBuzz) April 8, 2021

12.43pm: US markets await jobs data

Wall Street futures are pointing to a mostly postive start for US markets.

The Nasdaq Composite is forecast to open 0.89% higher, the S&P 500 up 0.34% but the Dow virtually flat. On Wednesday the Dow and S&P were positive, the Nasdaq marginally negative.

Sophie Griffiths market analyst at OANDA said: “Looking ahead, US futures are pointing to a mildly upbeat start, heading towards fresh record highs as the Fed sticks to stimulus. The tech-heavy Nasdaq is set to outperform its peers, boosted by a fall in US treasury yields and the prospect of ultra-low interest rates for longer. We continue to see further signs the rotation trade out of growth and into value has run out of steam for now.”

Later come US weekly jobless claims. Griffiths said: “The US labour market has been in focus over the past week following blowout non-farm payroll figures and better than expected JOLTS job openings. Initial jobless claims are expected to show 680,000 in the week ending 2 April, down from 719,000. A strong report could boost optimism surrounding US economic recovery and lift the greenback out of the red.”

That would be interesting in the light of the doveish comments from the US Federal Reserve, which continues to believe it is necessary to keep the monetary taps flowing to support the US economy despite the signs of recovery and worries about inflation.

Back in the UK the FTSE 100 remains steady, up 29.46 points or 0.43% at 6914.78.

12.18pm: Vaccine fears recede again

PLC () cannot have been happy to see the newspaper headlines about blood clot fears surrounding its COVID-19 vaccines, with people under 30 advised to seek a different jab.

But with many saying the benefits outweighing the risks, and Labour leader Kier Stamer saying he had  the Astra vaccine for his first jab and would have it for the second, the company’s shares have recovered from their earlier falls.

They are now up 2.65% or 188p at 7290p having fallen as low as 7045p earlier in the day.

The Astra revival has helped the FTSE 100 perk up a bit, with the leading index now 25.66 points or 0.37% higher at 6910.98.

The FTSE 250 has also moved into positive territory again, up 17.2 points or 0.08% at 22,177.77 after Wednesday’s record high.

Laith Khalaf, financial analyst at AJ Bell, said: “The fact an index hits a record high is…