The FTSE 100 rose 0.3% on Tuesday to trade around the 10,500 level, extending its rally for a third straight session and setting a new record high. Softer labour market data strengthened expectations of another interest rate cut from the Bank of England.
The unemployment rate unexpectedly increased to 5.2% in the three months to December, its highest level since 2021, while wage growth slowed to multi‑year lows. A decline in payrolls also signalled “weak hiring activity,” according to Liz McKeown, ONS Director of Economic Statistics.
Among individual movers, RELX (3.3%), Experian (2.1%) and Pearson (2%) were among the top gainers. Housebuilders Persimmon and Berkeley each advanced 1.5%, as rising expectations of a March rate cut supported the outlook for mortgage affordability.
On the corporate earnings front, BHP gained nearly 2% after delivering better‑than‑expected profits, while InterContinental Hotels inched 0.2% higher on stronger full‑year profit and revenue. By contrast, Antofagasta dropped 3% after its annual results fell short of investor expectations.
