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Market overview: Fed rate hike prospects for 2015 go out the window

Alexander Bueso

LONDON (ShareCast) - (ShareCast News) - 1454: "While it's always important not to over-react to one single data release, we'll make an exception in this case. The chances of a rate hike by the Fed this year just went way down," wrote Paul Ashworth, chief US economist at Capital Economics.

1400: The yield on the benchmark 10-year US Treasury yield is falling by nine basis points to 1.95% and that on similarly dated Spanish debt by another six basis points to 1.68%.

1330: Non-farm payrolls grew at a 142,000 pace last month, comfortably below the trend seen over the previous 18 months, according to the Bureau of Labour Statistics. Economists had anticipated an increase of 201,000. Revisions to the prior month´s data revealed job growth ran at a 136,000-person clip, down from a preliminary estimate of 173,000.

1111: Analysts at KimEng have upgraded their recommendation on the Hong Kong-listed shares of Standard Chartered (HKSE: 2888.HK - news) (2888HK) to buy, but lowered their target price to 88.6HKD from 120HKD beforehand.

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1015: On 1 October Glencore Director William Macaulay acquired 1.7m shares at a price of 90.91p each.

0945: News (Other OTC: NWSAL - news) that the FCA will launch a consultation on its plans to set a deadline for PPI complaints is boosting shares of London-listed banks and insurers. The deadline would fall two years after after the rule comes into force, which is not expected before the spring of 2016. Nevertheless, it may help the sector to draw a line below PPI claims.

0917: Financial stocks are in the lead led by gains in Standard Chartered after a strong close on the Hang Seng overnight. Hong Kong´s benchmark index finished the Friday session 3.03% higher at 24,478.36 points. That came after China´s central bank lowered the down-payment asked of first-time home buyers in those cities without purchase restrictions. 15m people may have had their private information exposed after credit agency Experian (Other OTC: EXPGF - news) was hacked. The company´s shares are getting pummeled after the security breach. Paragon Group and Electrocomponents (LSE: ECM.L - news) are the biggest movers on the second-tier index. All eyes are on today´s US jobs report for September scheduled for release at 13:30. FTSE 100 up 67.10 points to 6,140.07.