U.K. stocks experienced a modest uptick on Tuesday morning, continuing their recent upward trend as investors evaluate potential actions by Donald Trump, who assumed the U.S. presidency on Monday.
The overall sentiment remains cautious as investors digest national unemployment statistics and contemplate the impact of Trump's international trade policies, including potential tariffs and his stance on current geopolitical tensions. Attention is also focused on developments at the World Economic Forum currently taking place in Davos.
The FTSE 100 index rose by 10.17 points, or 0.12%, reaching 8,530.71 at the time of reporting.
Among the shares showing gains, Lloyds Banking Group increased by 4.3%, while Airtel Africa advanced by 1.8%. Barclays Group, Auto Trader Group, 3i Group, and Beazley saw gains ranging from 1% to 1.3%. Meanwhile, Natwest Group, Ashtead, Hiscox, IAG, Relx, Schroders, and DS Smith are seeing slight increases.
Conversely, shares of Anglo American Plc, BT Group, Rightmove, J Sainsbury, Associated British Foods, Antofagasta, Haleon, Easyjet, Mondi, and Diageo declined between 1% and 1.7%.
According to data from the Office for National Statistics, the U.K. unemployment rate rose slightly in the third quarter, with wage growth remaining robust. However, falling job vacancies indicate a potential reduction in pay pressures. The unemployment rate increased to 4.4% during the September to November period, aligning with predictions, up from 4.3% for the preceding three months. Average earnings excluding bonuses increased by 5.6% over the year compared to a forecasted 5.5%, with earnings including bonuses also rising by 5.6%, meeting expectations.
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