FTSE 100 Rises 0.14% as Oil Stocks Gain and UK Jobless Rate Holds at 4.9%
Updated
Updated · Yahoo Finance UK · Aug 18
FTSE 100 Rises 0.14% as Oil Stocks Gain and UK Jobless Rate Holds at 4.9%
3 articles · Updated · Yahoo Finance UK · Aug 18
Summary
London's FTSE 100 closed up 0.14% on Tuesday, with BP rising 2.96% and Shell 1.86% as higher crude prices lifted the index.
UK unemployment held at 4.9% in the three months to June, while average weekly pay growth slowed to 4.1% from 4.4%, easing pressure for a more hawkish Bank of England.
ING said weak private-sector hiring and softer wage growth keep the bar high for a 2026 rate hike, with the BoE likely to stay on hold this year and resume cuts from spring 2027.
US-Iran tensions added to the oil move after Washington declined to extend a 60-day truce and Iran said the Strait of Hormuz would stay closed unless US sanctions and military pressure end.
BHP added 0.74% after NexGen disclosed talks on a possible Rook I equity partnership; the miner also reported annual attributable profit of $9.83 billion on revenue of $58.76 billion.