FTSE 100 Little Changed As Pound Rises On Upbeat Employment Data
2024-08-09
2693
(fxcue news) - U.K. stocks were little changed on Tuesday while the British pound strengthened against other major currencies after data showed the U.K. unemployment rate dropped unexpectedly in the second quarter.
Data from the Office for National Statistics showed that the unemployment rate fell to 4.2 percent in the three months to June period, while the rate was expected to rise marginally to 4.5 percent from 4.4 percent in the preceding period.
In July, pay rolled employees increased 24,000 to 30.4 million. This follows an increase of 14,000 in June.
The benchmark FTSE 100 was marginally lower at 8,207 after gaining half a percent the previous day.
In corporate news, automotive supplier Dowlais tumbled 4 percent after widening its pre-tax loss for the first half of the year and cutting its annual revenue outlook.
Just Group jumped 17 percent after the provider of retirement-income products and services posted a robust set of first-half results and upgraded its 2024 guidance.
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