Market Report: FTSE climbs ahead of crucial US jobs number

FTSE 100 opened higher as attention swung to the US jobs data due lunchtime with the forecast for 50,000 new jobs to be created. London’s blue-chip index rose 7 at 6,510. Also in the US, the Robinhood trading app has removed all restrictions on trading and other stocks. The app had halted trading after a surge of retail investor demand sparked by Reddit’s WallStreetBets forum. But rather than provide a boost for the shares, as some investors had hoped, GameStop’s shares plunged 42% while AMC tumbled 21%. Johnson & Johnson (NYSE:JNJ) has filed for emergency use authorisation of its one-dose coronavirus vaccine with the US regulator. Once approved, the Johnson & Johnson vaccine will the third allowed for use in the US after Pfizer/BioNTech and Moderna's alternatives. French Connection has received separate takeover approaches from Spotlight Brands and Go Global Retail. The approaches are at an early stage according to the fashion chain. On the Beach Group PLC (LON:OTB) said it expects booking demand to be weak until the latest coronavirus (COVID-19) travel restrictions are lifted. Continued uncertainty in the travel industry meant it was unable to give the market any guidance as to likely full-year performance. Silence Therapeutics PLC (LON:SLN) is set to receive US$45mln from an oversubscribed private placement of stock with US investors that will fund the development of its drug pipeline.