FX.co ★ FTSE 100 Little Changed As Pound Rises On Upbeat Employment Data

UK stocks remained relatively stable on Tuesday, while the British pound appreciated against major currencies following unexpected data showing a drop in the UK unemployment rate for the second quarter.

The Office for National Statistics reported that the unemployment rate decreased to 4.2% during the three months ending in June, contrary to expectations that it would rise slightly to 4.5% from the previous 4.4%.

Meanwhile, payroll employment increased by 24,000 in July, bringing the total to 30.4 million. This follows a rise of 14,000 in June.

The benchmark FTSE 100 index saw a slight decline, settling at 8,207, after climbing 0.5% the day before.

In corporate developments, automotive supplier Dowlais fell by 4% after reporting a widened pre-tax loss for the first half of the year and reducing its annual revenue forecast.

Conversely, Just Group surged 17% following the release of strong first-half results and an upgraded guidance for 2024, underpinned by its retirement-income products and services.