Market overview: FTSE 100 finishes up 105
Friday 03 Feb 2012

1630: Close Stocks went vertical at 13:30 in London after US jobs data smashed expectations. The January employment report sent the Footsie rising around 50 points within a few minutes after non-farm payrolls rose by 243,000, above expectations of a 140,000 rise. The jobless rate fell from 8.5% to 8.3%. Financials were the top performers of the day with Admiral gaining over 8% after extending its existing UK car insurance reinsurance partnerships. Oil groups Petrofac, BG Group and Shell were among the few fallers late on. FTSE 100 finished up 105 at 5,901.

1537: Stocks are still moving higher now, with the top share index now approaching the 5,900 point area while, on the other side of the Atlantic, the S&P 500 is fighting against its own "glass ceiling", with technical resistance coming in around the 1,340 point zone. Both JP Morgan and Deutsche Bank have tapered their forecasts for the size of the Bank of England's asset repurchase program to £50bn from £75bn. Similarly, economists on the other side of the Atlantic are now also trying to gauge by how much the Fed's easing plans may be tempered as a result of today's data. FTSE 100 up 99 to 5,895.

1346: Reaction to the better than expected US jobs data has predictably been favourable, with the FTSE 100 shooting up to 5,856, up 60 points on the day.