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Photograph: Spencer Platt/Getty"/></a><strong class="strap"> </strong>Employment figures raise hopes that America may not be plunging into recession after all. By <strong>Ashley Seager</strong></div> <ul class="sublinks"> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://blogs.guardian.co.uk/markets/2008/05/leading_shares_ended_the_week.html" name="&lid={sublinks}{FTSE hits highest level since January}&lpos={trail}{1}"> FTSE hits highest level since January</a> </li> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/creditcrunch.banking" name="&lid={sublinks}{No UK recession, economists say}&lpos={trail}{2}"> No UK recession, economists say</a> </li> <li class="bullet last"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/commentisfree/2008/may/02/creditcrunch.bankofenglandgovernor" name="&lid={sublinks}{Leader: the end of the beginning}&lpos={trail}{3}"> Leader: the end of the beginning</a> </li> </ul> </li> <li class="thumb"> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/retail.highstreetretailers" name="&lid={trailblockColumn2Flex}{High street hopes for bank holiday sun}&lpos={trail}{3}">High street hopes for bank holiday sun</a></h3> <div class="trailtext"><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/retail.highstreetretailers" name="&lid={trailblockColumn2Flex}{High street hopes for bank holiday sun}&lpos={trail}{4}"><img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/sys-images/Travel/Pix/pictures/2006/11/14/rainbow_140x84.jpg" width="140" height="84" alt="A rainbow"/></a><strong class="strap"> </strong>Stores are being hit hard by a grim combination of debt-strained household budgets, rising costs and bad weather. By <strong>Julia Finch</strong></div> </li> <li> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/money/2008/may/03/mortgages.banking" name="&lid={trailblockColumn2Flex}{Building society mortgage loans fall 68%}&lpos={trail}{5}">Building society mortgage loans fall 68%</a></h3> <div class="trailtext"><strong class="strap"> </strong>Mutuals are scaling back lending even more severely than their major bank rivals</div> <ul class="sublinks"> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/money/2008/may/02/houseprices.property" name="&lid={sublinks}{House prices fall in April}&lpos={trail}{1}"> House prices fall in April</a> </li> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/banking.housingmarket" name="&lid={sublinks}{Prescott blames banks for housing boom}&lpos={trail}{2}"> Prescott blames banks for housing boom</a> </li> <li class="bullet interactive"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/money/interactive/2008/apr/15/houseprices" name="&lid={sublinks}{Interactive: the history of UK house prices}&lpos={trail}{3}"> Interactive: the history of UK house prices</a> </li> <li class="bullet audio last"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/audio/2008/may/01/house.price.fall" name="&lid={sublinks}{Audio: Larry Elliott welcomes the news}&lpos={trail}{4}"> Audio: Larry Elliott welcomes the news</a> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/audio/2008/may/01/house.price.fall?popup=true" name="&lid={sublinks}{Audio: Larry Elliott welcomes the news}&lpos={trail}{5}" class="audio-popup" onclick="popupWindow=window.open('https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/audio/2008/may/01/house.price.fall?popup=true', 'guAudioPlayerPopUp', 'width=485,height=215,resizable=yes,scrollbars=no,location=yes,menubar=no,status=no,toolbar=no'); popupWindow.focus(); return false;"> <img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/static/51111/original/common/images/icon_popup.gif" alt="Launch as popup"/> </a> </li> </ul> </li> <li class="thumb"> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/microsoft.yahoo" name="&lid={trailblockColumn2Flex}{Microsofts move for Yahoo imminent}&lpos={trail}{6}">Microsoft's move for Yahoo imminent</a></h3> <div class="trailtext"><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/microsoft.yahoo" name="&lid={trailblockColumn2Flex}{Microsofts move for Yahoo imminent}&lpos={trail}{7}"><img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/sys-images/Technology/Pix/pictures/2008/04/30/Bullmer140x84.jpg" width="140" height="84" alt="Steve Ballmer"/></a><strong class="strap"> </strong>Microsoft may go hostile in its pursuit of Yahoo after chief executive Steve Ballmer told staff he would make his next move soon</div> <ul class="sublinks"> <li class="bullet last"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/01/apple.iphone" name="&lid={sublinks}{Basic iPhone sold out}&lpos={trail}{1}"> Basic iPhone sold out</a> </li> </ul> </li> <li> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/lloydstsbgroup.barclaysbusiness" name="&lid={trailblockColumn2Flex}{Lloyds has strong capital cushion}&lpos={trail}{8}">Lloyds 'has strong capital cushion'</a></h3> <div class="trailtext"><strong class="strap"> </strong>But speculation continues to turn to Barclays about its need to raise fresh funds. By <strong>Jill Treanor</strong></div> </li> </ul> </li> <li class="col"> <ul> <li class="image"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/mars.wrigley.secretive" name="&lid={trailblockColumn2Flex}{Life in Mars: reclusive dynasty behind one of worlds most famous brands}&lpos={trail}{9}"><img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/sys-images/Business/Pix/pictures/2008/05/02/mars300180.jpg" width="300" height="180" alt="Mars bar. Photograph: David Levene"/></a> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/mars.wrigley.secretive" name="&lid={trailblockColumn2Flex}{Life in Mars: reclusive dynasty behind one of worlds most famous brands}&lpos={trail}{10}">Life in Mars: reclusive dynasty behind one of world's most famous brands</a></h3> <div class="trailtext"><strong class="strap"> </strong>The $22bn takeover of Wrigley is giving the firm the kind of visibility it has studiously avoided for 98 years, writes <strong>Andrew Clark</strong> in New York</div> <ul class="sublinks"> <li class="bullet last"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/howardhughes.recluses" name="&lid={sublinks}{Business worlds most celebrated recluses}&lpos={trail}{1}"> Business world's most celebrated recluses</a> </li> </ul> </li> <li> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/starbucks.fooddrinks" name="&lid={trailblockColumn2Flex}{Europes first drive-through Starbucks}&lpos={trail}{11}">Europe's first drive-through Starbucks</a></h3> <div class="trailtext"><strong class="strap"> </strong>Expert baristas from Washington State come to Wales to convince passing motorists of benefits of the coffee drive-through</div> <ul class="sublinks"> <li class="bullet last"> <a href="https://web.archive.org/web/20080503115839/http://blogs.guardian.co.uk/food/2008/05/drivethru_starbucks.html" name="&lid={sublinks}{Blog: will it boost sales?}&lpos={trail}{1}"> Blog: will it boost sales?</a> </li> </ul> </li> <li class="thumb"> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/westcoastmainline.rail" name="&lid={trailblockColumn2Flex}{3m rail passengers face disruption}&lpos={trail}{12}">3m rail passengers face disruption</a></h3> <div class="trailtext"><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/westcoastmainline.rail" name="&lid={trailblockColumn2Flex}{3m rail passengers face disruption}&lpos={trail}{13}"><img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/sys-images/Guardian/Pix/pictures/2008/02/28/rail140.jpg" width="140" height="84" alt="A Virgin Trains staff member with a commuter at Manchester Piccadilly station"/></a><strong class="strap"> </strong>Rail regulator sanctions huge Network Rail engineering programme on London-to-Glasgow route with closures every weekend until December</div> </li> </li> </ul> <ul id="more-news" class="single-col"> <li><h3>More business news</h3></li> <li class="col first"> <ul> <li> <h4><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/smithandnephew.pharmaceuticals" name="&lid={moreNewsHeadlines}{Smith &amp; Nephew finds suspect sales tactics at Plus unit}&lpos={trail}{1}">Smith & Nephew finds suspect sales tactics at Plus unit</a></h4> </li> <li> <h4><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/7" name="&lid={moreNewsHeadlines}{Resolutions Cowdery eyes takeover targets}&lpos={trail}{2}">Resolution's Cowdery eyes takeover targets</a></h4> </li> <li> <h4><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/apr/30/britishairwaysbusiness.theairlineindustry1" name="&lid={moreNewsHeadlines}{T5 debut puts BA top of mislaid bags list}&lpos={trail}{3}">T5 debut puts BA top of mislaid bags list</a></h4> </li> <li> <h4><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/apr/30/construction.regulators" name="&lid={moreNewsHeadlines}{Building firms accused of Calorie Club carve-up}&lpos={trail}{4}">Building firms accused of 'Calorie Club' carve-up</a></h4> </li> </ul> </li> </ul> </div> </div> <div id="more-trails"> <div id="market-data-header" class="page-heading trailblock"> <h1> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/markets" name="&lid={trailblockHeader}{Market data}&lpos={trail}{1}">Market data</a> </h1> </div> <div id="market-indexes"> <table class="marketindex" summary="Market index for FTSE 100 INDEX"> <tbody> <tr> <th class="indexname" scope="col row" title="Index"><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/ftse" name="&lid={stocks/marketIndexes}{FTSE 100}&lpos={stocks/marketIndexes}{1}">FTSE 100</a></th> <td class="netchange up" rowspan="3" title="Net change"><span>+128.2</span></td> </tr> <tr> <td title="Price">6215.5</td> </tr> <tr> <td class="timetillclose"> Closed </td> </tr> </tbody> </table> <table class="marketindex" summary="Market index for XETRA DAX PF"> <tbody> <tr> <th class="indexname" scope="col row" title="Index">DAX</th> <td class="netchange up" rowspan="3" title="Net change"><span>+94.41</span></td> </tr> <tr> <td title="Price">7043.23</td> </tr> <tr> <td class="timetillclose"> Closed </td> </tr> </tbody> </table> <table class="marketindex" summary="Market index for DJ INDU AVERAGE"> <tbody> <tr> <th class="indexname" scope="col row" title="Index">Dow Jones</th> <td class="netchange up" rowspan="3" title="Net change"><span>+47.8</span></td> </tr> <tr> <td title="Price">13057.8</td> </tr> <tr> <td class="timetillclose"> Closed </td> </tr> </tbody> </table> <table class="marketindex last" summary="Market index for NIKKEI 225 INDEX"> <tbody> <tr> <th class="indexname" scope="col row" title="Index">Nikkei</th> <td class="netchange up" rowspan="3" title="Net change"><span>+282.4</span></td> </tr> <tr> <td title="Price">14049.26</td> </tr> <tr> <td class="timetillclose"> Closed </td> </tr> </tbody> </table> </div> <div class="col first"> <div id="ftsemovers"> <table class="ftse100 up" summary="Moving up FTSE 100"> <thead> <tr> <th class="company" scope="col">Moving up <span>FTSE 100</span></th> <th class="price" scope="col">Price</th> <th class="change" scope="col">Change</th> </tr> </thead> <tbody class="up"> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/wolseley" name="&lid={netMovers}{WOLSELEY}&lpos={netMovers}{1}">WOLSELEY</a> </th> <td>530.79p</td> <td>+8.30%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/next" name="&lid={netMovers}{NEXT}&lpos={netMovers}{2}">NEXT</a> </th> <td>1,224.17p</td> <td>+6.80%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/hbosbusiness" name="&lid={netMovers}{HBOS}&lpos={netMovers}{3}">HBOS</a> </th> <td>491.47p</td> <td>+6.56%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/kingfisher" name="&lid={netMovers}{KINGFISHER}&lpos={netMovers}{4}">KINGFISHER</a> </th> <td>138.15p</td> <td>+6.03%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/allianceleicesterbusiness" name="&lid={netMovers}{ALLIANCE & LEICS}&lpos={netMovers}{5}">ALLIANCE & LEICS</a> </th> <td>540.00p</td> <td>+5.78%</td> </tr> </tbody> </table> <table class="ftse100 down" summary="Moving down FTSE 100"> <thead> <tr> <th class="company" scope="col">Moving down <span>FTSE 100</span></th> <th class="price" scope="col">Price</th> <th class="change" scope="col">Change</th> </tr> </thead> <tbody class="down"> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/stocksearch?query=BGY.L&searchBy=ric" name="&lid={netMovers}{BRITISH ENERGY}&lpos={netMovers}{1}">BRITISH ENERGY</a> </th> <td>728.35p</td> <td>-3.89%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/stocksearch?query=TRIL.L&searchBy=ric" name="&lid={netMovers}{THOMSON REUTERS}&lpos={netMovers}{2}">THOMSON REUTERS</a> </th> <td>1,574.77p</td> <td>-2.29%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/tateandlyle" name="&lid={netMovers}{TATE & LYLE}&lpos={netMovers}{3}">TATE & LYLE</a> </th> <td>522.00p</td> <td>-1.04%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/woodgroupjohn" name="&lid={netMovers}{WOOD GRP (JOHN)}&lpos={netMovers}{4}">WOOD GRP (JOHN)</a> </th> <td>433.65p</td> <td>-0.92%</td> </tr> <tr> <th scope="row"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/unitedutilities" name="&lid={netMovers}{UNITED UTILITIES}&lpos={netMovers}{5}">UNITED UTILITIES</a> </th> <td>719.38p</td> <td>-0.83%</td> </tr> </tbody> </table> </div> </div> <div class="col"> <div id="lichart"> <h4>FTSE 100</h4> <img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/thirdparty/reuters/A.FTSE.png" alt="Graph displaying today's FTSE 100"/> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/marketroundup/" name="&lid={latestInstrumentChart}{More markets data}&lpos={latestInstrumentChart}{1}">More markets data</a> </div> <div id="stock-search"> <form action="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/stocksearch" method="get" id="stock-search-form"> <fieldset> <h3>Search live share prices from Reuters</h3> <p id="stock-search-label"><label for="query">Enter company name or share code</label></p> <p id="stock-search-input"><input type="text" id="query" name="query"/> <input type="submit" name="submit" value="Go"/></p> <p id="stock-search-options"><input type="radio" name="searchBy" value="name" id="by-name" checked="checked"/> <label for="by-name">Search by name</label> <input type="radio" name="searchBy" value="ric" id="by-code"/> <label for="by-code">Search by code</label></p> <p id="browse-all-stocks"><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/marketindex/.FTSE" name="&lid={business/stockSearchForm}{Browse all stocks in the FTSE 100}&lpos={business/stockSearchForm}{1}">Browse all stocks in the FTSE 100</a></p> </fieldset> </form> </div> </div> <p id="reuters-blurb">Financial data from <img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/static/51111/original/business/images/reuters-logo.gif" alt="Reuters"/> Share prices are updated with a 15-minute delay. Data is not intended for trading purposes. <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2007/oct/01/1">Important disclaimer</a>.</p> </div> <div id="second-trailblock" class="trailblock"> <div class="col first"> <div id="also-on-heading" class="page-heading trailblock"> <h2> Other news </h2> </div> <ul> <li class="col first"> <ul> <li class="image"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/marksspencer" name="&lid={trailblockColumn2Flex}{Rose to sell karaoke stake}&lpos={trail}{1}"><img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/sys-images/Business/Pix/pictures/2007/10/23/14RoseStuart180.jpg" width="300" height="180" alt="Marks and Spencer chief executive Stuart Rose"/></a> <h2><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/marksspencer" name="&lid={trailblockColumn2Flex}{Rose to sell karaoke stake}&lpos={trail}{2}">Rose to sell karaoke stake</a></h2> <div class="trailtext"><strong class="strap"> </strong>The music has stopped for Sir Stuart Rose's ambitions to own a slice of a karaoke bar business</div> </li> <li class="thumb"> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/retail" name="&lid={trailblockColumn2Flex}{Hornby adds Corgi to its toy collection}&lpos={trail}{3}">Hornby adds Corgi to its toy collection</a></h3> <div class="trailtext"><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/02/retail" name="&lid={trailblockColumn2Flex}{Hornby adds Corgi to its toy collection}&lpos={trail}{4}"><img src="https://web.archive.org/web/20080503115839im_/http://image.guim.co.uk/sys-images/Guardian/Pix/pictures/2008/05/01/corgi10a.jpg" width="140" height="84" alt="Hornby, the venerable maker of model railways, has moved into the car business with its purchase of Corgi"/></a><strong class="strap"> </strong>Model company hopes to cash in on hobby boom by snapping up car maker for 拢7.5m</div> <ul class="sublinks"> <li class="bullet gallery last"> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/gallery/2008/may/01/retail" onclick="return openGalleryPopup('https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/gallery/2008/may/01/retail', 696);" name="&lid={sublinks}{In pictures: Corgi toys}&lpos={trail}{1}"> In pictures: Corgi toys</a> </li> </ul> </li> <li> <h3><a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/01/bankofenglandgovernor.marketturmoil" name="&lid={trailblockColumn2Flex}{Bank of England: markets too pessimistic}&lpos={trail}{5}">Bank of England: markets too pessimistic</a></h3> <div class="trailtext"><strong class="strap"> </strong>Fears banks could cut loans to consumers, causing an adverse impact on the economy</div> <ul class="sublinks"> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/01/manufacturing.inflation" name="&lid={sublinks}{No let-up in inflationary pressures}&lpos={trail}{1}"> No let-up in inflationary pressures</a> </li> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/may/01/interestrates.useconomy" name="&lid={sublinks}{Fed cuts interest rates to 2%}&lpos={trail}{2}"> Fed cuts interest rates to 2%</a> </li> <li class="bullet "> <a href="https://web.archive.org/web/20080503115839/http://www.guardian.co.uk/business/2008/apr/30/useconomy.interestrates" name="&lid={sublinks}{Contagion is in the air ... Britain is catching a cold}&lpos={trail}{3}"> 'Contagion is in the air ... 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