Markets gain ground on encouraging US jobs data

Wall Street rallied at the start of the session today after non-farm payroll numbers from the US beat expectations.

The US economy added 175,000 jobs in May, beating analyst expectations of around 165,000, with the positive numbers adding to speculation the Federal Reserve could start to taper its fiscal stimulus. However, the unemployment rate rose very slightly to 7.6%, up from 7.5% and some way off the 6.5% figure expected before tapering occurs. Not long after the opening bell, the S&P 500 index rose 16 points or 1% to trade at 1,639. S&P 500 futures trading had suggested a more modest 4-point rise. The Dow Jones Industrial Average rose 1.16% to trade at 15,215, while the FTSE 100 climbed...