FTSE 100 Slips After Wage Data
(RTTNews) - U.K. stocks traded lower on Tuesday while the British pound weakened against other major currencies after data showed that that the U.K. average earnings grew less-than-expected for three months ending November.
Data from the Office for National Statistics showed that the U.K. average earnings including bonuses increased 6.5 percent in three months to November, which was weaker than economists' forecast of 6.8 percent. Excluding bonuses, earnings grew 6.6 percent, matching expectations.
The number of vacancies declined 49,000 to 934,000 in October to December. The jobless rate came in at 4.2 percent in three months to November, the same rate as seen in three months to October.
The benchmark FTSE 100 was down 33 points, or 0.4 percent, at 7,561 after declining 0.4 percent on Monday.
Vodafone was marginally higher after partnering with Microsoft for AI services.
Spirent Communications jumped 7 percent. The telecommunications testing company said that it has started the new fiscal year with a growing orderbook and that it remains well-placed for the year ahead.
Online supermarket Ocado soared 7 percent after saying it would return to positive earnings for the 2022/23 year.
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