FTSE 100 Falls on Tuesday
The FTSE 100 fell 0.4% on Tuesday after gaining 0.4% in the previous session, as rising oil prices and weak UK employment data weighed on sentiment. Brent crude traded near $108 a barrel, while investors assessed how long Saudi Arabia’s key oil pipeline could remain closed. Meanwhile, UK payrolls fell by 26,000 in August following a revised 19,000 decline in July, far exceeding expectations. The data highlighted continued labour-market weakness ahead of Thursday’s Bank of England rate decision. Unemployment remained at 4.9% in the three months to July, while regular wage growth held at 3.5%. Banks led declines, with HSBC, Barclays and Lloyds falling 2.2%, 1.9% and 0.6%, respectively. Miners also weakened, led by Glencore’s 2.5% drop.
4% in the previous session, as rising oil prices and weak UK employment data weighed on sentiment. Brent crude traded near $108 a barrel, while investors assessed how long Saudi Arabia’s key oil pipeline could remain closed. Meanwhile, UK payrolls fell by 26,000 in August following a revised 19,000 decline in July, far exceeding expectations. The data highlighted continued labour-market weakness ahead of Thursday’s Bank of England rate decision.
5%. 6%, respectively. 5% drop.