FTSE 100 Declines After Mixed Employment Data
(RTTNews) - U.K. stocks edged lower on Tuesday as the latest employment data painted a mixed picture of the economy.
The unemployment rate ticked up to 4.4 percent from 4.3 percent in the three months to April, the highest rate since September 2021 but wage growth jumped to 5.9 percent, raising concerns that higher wages can feed into consumer prices and potentially stall the central bank's progress with inflation.
The benchmark FTSE 100 was down 25 points, or 0.3 percent, at 8,203 after falling 0.2 percent on Monday.
Rio Tinto fell 2.2 percent after the mining giant agreed to acquire Mitsubishi Corp's 11.65 percent stake in Boyne Smelters for an undisclosed sum.
Transport operator FirstGroup declined 1.2 percent after reporting a fall in annual revenue.
Senior Plc., an international manufacturer of high-tech components, rallied 2.2 percent after securing various long-term production contracts from Collins Aerospace.
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