The UK jobs market seems to have overcome fears regarding Brexit. The Office for National Statistics (ONS) reported that employment increased by 174,000 to 31.77 million in the three months to July. This is the highest number of people in work since records began 40 years ago.
The rise in employment figures was higher than the consensus forecast. It could be good news for UK banks such as Lloyds Banking Group PLC (LON:LLOY), Barclays PLC (LON:BARC) and Royal Bank of Scotland Group plc (LON:RBS) since it may help demand for new loans to remain robust.
In Asia, stock markets were at near-six week lows due in part to a lower oil price. This was due to renewed fears about a glut in the supply of oil and could be bad news for oil producers such as BP plc (LON:BP), BHP Billiton plc (LON:BLT) and Tullow Oil plc (LON:TLW). However, investors have thus far shrugged off the news and BP’s shares are up 0.2% today, BHP Billiton is up 2.9% and Tullow Oil is down just 0.1%.
European stock markets have so far ended a four-day losing streak today. This comes at a time when President of the European Commission, Jean-Claude Juncker, said that Brexit does not mean the end of the EU. This could be seen as good news for European-exposed shares such as Banco Santander SA (LON:BNC), Diageo plc (LON:DGE), easyJet plc (LON:EZJ) and Unilever plc (LON: ULVR). Santander is down 0.8%, Diageo is up 0.8%, easyJet has declined by 1.9% and Unilever has fallen by 0.2% so far today.