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London markets higher on bank earnings

London markets climbed as HSBC led the way higher for first quarter bank earnings.

How did markets perform?

The U.K.’s FTSE 100 UKX, +0.77% climbed 0.7% to 7,404.1, more than reversing its drop Thursday of 0.5%.

The pound GBPUSD, -0.2379% retreated 0.2% to $1.3002, on top of Thursday’s decline of 0.4%.

What’s moving the markets?

Investors will be eyeing U.S. jobs numbers Friday when the nonfarm payrolls report lands. In economic data, the U.K. Purchasing Manager Index (PMI) data for services came in slightly above consensus at 50.4 versus the 50.1 expected. The relatively weak figure, however, remains indicative of an economy barely ticking along as Brexit uncertainty dominates the outlook.

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