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The FTSE 100 began Tuesday’s session on a positive note, adding 19 points at the open to trade at 9,148.82, buoyed by optimism following a 90-day extension in the US-China trade truce announced by US President Donald Trump.
The move followed a broadly upbeat performance in Asian markets, with Tokyo’s Nikkei 225 climbing over 2% to a record high after a holiday closure, while the Shanghai Composite edged 0.5% higher.
On Wall Street, trading was more subdued in the previous session, with the Dow Jones slipping 0.5%, the S&P 500 down 0.3%, and the Nasdaq Composite retreating 0.3% from record levels. Let’s take a quick look at the FTSE 100 live today.
Fresh data from the Office for National Statistics (ONS) showed the UK jobs market losing momentum. Job vacancies fell by 44,000 between May and July, while payroll figures dropped by 26,000 in June, a slightly sharper decline than in May.
Over the past year to June, payroll employment decreased by 149,000, with early estimates for July pointing to a further 8,000 drop.
The unemployment rate held steady at 4.7% for the three months to June, but annual pay growth excluding bonuses remained flat at 5%. Including bonuses, wage growth eased to 4.6%, missing forecasts.
The ONS noted that job losses were concentrated in sectors such as hospitality and retail, which have also seen a notable fall in vacancies.
Rising costs from higher national insurance contributions and minimum wage increases introduced in April are adding to employer pressures.
Bellway, the FTSE 250 housebuilder, reported a 14.3% rise in completions to 8,749 homes in its latest financial year, with an average selling price of £316,000.
The group enters the new year with a healthy order book and aims to deliver around 9,200 homes in FY2026. Shares rose 3% in early trading.
Gambling giant Entain upgraded its guidance after reporting half-year underlying earnings of £583 million, ahead of expectations. Strong performance in UK and Ireland operations and a 35% revenue rise at its US joint venture, BetMGM, boosted results.
The company now expects annual underlying earnings between £1.1 billion and £1.15 billion.
Meanwhile, British Retail Consortium figures showed July retail sales up 2.5% year-on-year, boosted by warm weather and major sporting events.
However, industry leaders warn that growth is insufficient to offset the £7 billion in new costs imposed in the last Budget.
With global trade tensions easing and Asian markets rallying, the FTSE 100 opened with stronger sentiment this morning. However, underlying weaknesses in the UK labor market, fluctuating FTSE 100 price, and increasing cost pressures across the economy suggest challenges lie ahead in the coming months.
