London stocks are trading lower on Tuesday, tracking weaker European markets, as investors assess a fresh jump in oil prices and the latest UK labour data.
The FTSE 100 fell 0.9% and the FTSE 250 was down 0.6%. On the continent, Germany’s DAX slid 0.8%, France’s CAC 40 dropped 1% and the Euro Stoxx 50 fell 1%.
Crude prices rose amid continued tensions in the Middle East, with Brent up 2.2% at $108.01 a barrel and WTI up 2% at $103.66, as the U.S.-Iran standoff escalates.
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Spread bets and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 69% of retail investor accounts lose money when trading spread bets and CFDs with this provider.
Gold slipped 0.7% to $4,269 an ounce and silver fell 1% to $62.58. Oil majors were little changed, with BP down 0.4% and Shell off 0.1%.
On the economic front, official data showed UK unemployment held at 4.9% in the three months to July, below the 5% forecast, while pay growth eased to 3.9% and vacancies fell to 702,000.
Among the FTSE 100’s top risers were Marks & Spencer, up 1.5%, Kingfisher, up 1.5%, and BAE Systems, up 0.8%. The biggest fallers were Aberdeen Group, down 3.2%, Barclays, down 2.6%, and ICG, down 2.6%.
GSK has edged higher after agreeing to acquire experimental multiple myeloma therapy CMG1A46 from China’s Chimagen Biosciences for up to $750 million.
In the FTSE 250, Wickes jumped 8.2% after interim results, while Kier Group rose 3.4% on full-year results and IP Group gained 3.4% following its half-year report.
The standout faller was Trustpilot, down 16.7%, even as first-half revenue rose 23% to $151.4 million. The review platform slipped to a net loss on $6 million of one-off charges.
Pollen Street fell 5.2% after interim results and Bridgepoint dropped 3.6%.
