FTSE 100 trades lower unswayed by the recovery in the UK job market

Highlights

  • FTSE100 traded modestly in the red, down by 0.13% at 7,059 in the second half of trade.
  • The UK reported a slight decline in the unemployment rate at 4.6% in July month as more people entered the UK labour market.

FTSE 100 was trading slightly in red, down by 0.13% at 7,059, while mid-cap focused FTSE250 index traded flat at 23,778, remaining unswayed by the jobs data. Meanwhile, the job market in the UK continues to shine, with a number of unfilled positions hitting over one million in the three months to August 2021. The unemployment rate also fell marginally to 4.6% in July 2021 as more people entered the labour market due to a rise in job opportunities, as indicated by the figures given by the Office for National Statistics (ONS).

Top five FTSE100 gainers

JD Sports Fashion plc (8.01%), B&M European Value Retail SA (1.90%), Kingfisher (1.69%), Bunzl plc (1.48%), Entain plc (1.47%)

Top five FTSE100 losers

Evraz plc (-3.21%), International Consolidated Airlines Group SA (-3.05%), Anglo American (-2.97%), Johnson Matthey Plc (-2.24%), BT Group plc (-2.16%)

Global Markets Scan: Top must know global cues before ASX opens

European Markets

Major European market indexes are trading in the green zone. The German blue-chip DAX index is up by 0.34% at 15,755, while the benchmark index of France, CAC 40, was at 6,676, up by 0.01%. European markets are trading in range after the release of the US inflation data. Core CPI number in the US declined to 4% in August month. The investors will closely monitor the inflation numbers as it being a key factor in deciding the further course of action by the Federal Reserve to scale back the economic stimulus.

Currency Markets

The pound trades higher against the dollar at 1.3878, up by 0.30%, after the previous close of 1.3836, while the EUR/ GBP currency pair traded at 0.8522, down by 0.15%. The pound rose to over six weeks high against the dollar above the 1.3900 mark for the first time since 6 August 2021.

Commodities

WTI crude oil future contract traded at USD 70.94, up by 0.67%, while the Brent crude oil trades at USD 74.01, up by 0.69%. Crude oil prices hit six weeks high following the report that Hurricane Nicholas could cause widespread floods and power outages in the key oil producing markets like Texas and Louisiana. Also, the International Energy Agency has forecasted a big rebound in the crude oil demand for the rest of the year.

The Gold futures contract continues to trade in the red, down by 0.03% at USD 1,793 per ounce.

Asian Markets

Major Asia Pacific indexes made a mixed closing. Shanghai Composite of China closed at 3,662, down by 1.42%, while the Nikkei 225 of Japan closed at 30,670, up by 0.73%. Hang Seng index closed in red, down by 1.21% at 25,502, while India’s Nifty 50 closed at 17,380, up by 0.14%. Australia’s ASX200 closed at 7,437, up by 0.16%.

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