FTSE 100 Little Changed As Vodafone Cuts Full-year Forecasts
(RTTNews) - U.K. stocks edged up slightly on Tuesday despite weak employment data and Vodafone's disappointing outlook.
The U.K. unemployment rose slightly in the third quarter ahead of the economy entering a prolonged period of recession, the Office for National Statistics said. The ILO jobless rate rose slightly to 3.6 percent during July to September from 3.5 percent in three months to August. The rate was forecast to remain unchanged at 3.5 percent.
The employment rate for July to September was 75.5 percent, largely unchanged on the previous quarter.
The benchmark FTSE 100 was up 0.1 percent at 7,395 after climbing 0.9 percent on Monday.
Telecom major Vodafone slumped nearly 6 percent after slashing its full-year forecasts and launching a cost-cutting plan.
Plastic components manufacturer Carclo fell more than 2 percent after saying it had promoted David Bedford to Chief Financial Officer with effect from November 14.
Centrica, an energy and services firm, soared 4.3 percent after it launched a £250mn share buyback.
Tobacco company Imperial Brands gained 1.3 percent despite reporting weaker pre-tax profit for fiscal 2022.
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