MARKETS LIVE: Shares up after positive US economic data; Lookers to shut

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MARKETS LIVE: Shares up after positive US economic data; Lookers to shut dealerships; Aston Martin to cut 500 jobs

By Harry Wise For This Is Money and Jane Denton For Thisismoney

Published: | Updated:

Markets rose today after Wall Street gained on surveys showing better US jobs and manufacturing conditions than expected. However, the FTSE is predicted to fall this morning as the ECB prepares to have another council meeting.

Around 1,500 jobs are set to be axed and another 12 showrooms closed at struggling car dealership Lookers as the group announced plans to slash costs in the face of the coronavirus crisis and a tough car market. 

Luxury carmaker Aston Martin is to make 500 people redundant. The struggling firm, whose share price has dived since it went public says the cuts are due to the ‘lower than originally planned production volumes and improved productivity across the business.’

More than three-quarters of workers are willing to see income tax rates hiked to help the country pull itself out of the £300billion financial black-hole it now faces, new findings from a poll suggest. 

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