London stocks rise as soft labor data fuels expectations for interest rate cuts next month
London stocks rose Tuesday as soft jobs data boosted rate cut bets. While tech shares gained, miners fell on lower metal prices and easing geopolitical tensions.
Insights:
The United Kingdom 
GB saw its unemployment rate rise to 5.2% as wage growth cooled, according to data released by the Office for National Statistics. This print, which shows unemployment reaching its highest level in more than a decade outside of the pandemic period, led investors to increase the implied probability of a Bank of England rate cut from about 65% to roughly 80%. Consequently, the FTSE 100 saw a modest rise today as markets reacted to the potential for looser monetary policy.
GB saw its unemployment rate rise to 5.2% as wage growth cooled, according to data released by the Office for National Statistics. This print, which shows unemployment reaching its highest level in more than a decade outside of the pandemic period, led investors to increase the implied probability of a Bank of England rate cut from about 65% to roughly 80%. Consequently, the FTSE 100 saw a modest rise today as markets reacted to the potential for looser monetary policy.
