FTSE 100 falls 0.4% as oil prices rise and UK payrolls weaken

  • FTSE 100 fell 0.4% as oil prices and weak UK employment data pressured markets.
  • UK payrolls dropped 26,000 in August after a revised 19,000 decline in July.
  • Banks fell, led by HSBC’s 2.2% drop, while Glencore declined 2.5%.

The FTSE 100 fell 0.4% on Tuesday after rising by the same amount in the previous session, pressured by higher oil prices and weak UK employment data. Brent crude traded near $108 a barrel as investors assessed how long Saudi Arabia’s key oil pipeline could remain closed. UK payrolls declined by 26,000 in August after a revised 19,000 fall in July, well below expectations and underscoring labour-market weakness before Thursday’s Bank of England rate decision. Unemployment held at 4.9% in the three months to July, while regular wage growth remained at 3.5%. Banks led the market lower, with HSBC, Barclays and Lloyds falling 2.2%, 1.9% and 0.6%, respectively. Glencore led declines among miners, dropping 2.5%.

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