16/10/13 Market Movements

Markets closed up, 22.48 points at 6,571.59 today.

Stock Prices
Royal Mail staff have voted for strike action, backing a walkout on 4th November unless a deal protecting employment is reached. The share price has fallen 2.86% today.

Market Movements
The UK’s jobless claimant count saw its biggest fall in more than 16 years today.  However, the unemployment rate has remained unchanged at 7.7% which was in line with most analyst forecasts. The news indicates that the economic recovery within the UK is gathering pace.  The Bank of England have already said that they will not change interest rates until unemployment falls to 7%, which they believe will not happen until 2016.

In other news, global stock market indices have risen today amongst hopes that a deal regarding the U.S. debt ceiling will be reached by tomorrow.