FTSE 100 Up Marginally As Bank Stocks Gain
(RTTNews) - U.K. stocks are marginally higher Tuesday morning, extending recent gains, as investors continue to assess the likely moves of Donald Trump, who was sworn-in on Monday as the President of the United States.
The mood is cautious with investors digesting the nation's unemployment data, and weighing the possible impact of Trump's policies on international trade and potential tariffs and his take on the current geopolitical tensions.
Investors are also closely following the proceedings at the ongoing World Economic Forum in Davos.
The benchmark FTSE 100 was up 10.17 points or 0.12% at 8,530.71 a few minutes ago.
Lloyds Banking Group shares are up 4.3%. Airtel Africa is gaining 1.8%, while Barclays Group, Auto Trader Group, 3l Group and Beazley are advancing 1 to 1.3%.
Natwest Group, Ashtead, Hiscox, IAG, Relx, Schrodders and DS Smith are modestly higher.
Anglo American Plc, BT Group, Rightmove, J Sainsbury, Associated British Foods, Antofagasta, Haleon, Easyjet, Mondi and Diageo are down 1 to 1.7%.
Data from the Office for National Statistics showed the UK unemployment rate rose slightly in the third quarter and wage growth remained high but falling vacancies signals a decrease in pay pressures.
The data said the unemployment rate rose to 4.4% in the September to November period, as expected, from 4.3% in the three months to October.
Average earnings excluding bonuses grew 5.6% in three months to November from a year ago, slightly faster than the forecast of 5.5%. Earnings including bonuses also climbed 5.6% annually, which was in line with expectations.
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