The FTSE 100 is poised for another record-breaking session on Tuesday, with futures pointing to a positive opening after fresh UK jobs data weakened the pound and Wall Street closed sharply higher overnight.
London’s blue-chip index has been called up 85 points, which would propel it well into new record territory following Monday’s all-time closing high of 9,787.15, a gain of 104.58 points.
Momentum is being fuelled by strong gains on US markets, where the tech-heavy Nasdaq surged 2.3%, the S&P 500 climbed 1.5%, and the Dow Jones Industrial Average rose 0.8% amid renewed investor optimism over the potential end of the US government shutdown.
In Asia, markets were more subdued, with Hong Kong’s Hang Seng slipping 0.2% and Tokyo’s Nikkei 225 edging down 0.1%.
Back in the UK, new data showed signs of a cooling labour market. The unemployment rate unexpectedly ticked up to 5.0% in the three months to October from 4.9%, while average pay including bonuses eased to 4.8% from 5.0%, defying economists’ expectations for no change. Wages excluding bonuses softened slightly to 4.6%, matching forecasts.
The weaker jobs data weighed on sterling, helping to bolster London-listed multinationals that benefit from a softer pound — setting the stage for another strong day on the UK market.
