Proactive Investors
Published Dec 17, 2024 07:35
Updated Dec 17, 2024 08:10
FTSE 100 Live: Footsie to fall again, bitcoin passes US$107,000, unemployment steady
7.35am: Wages rise, unemployment steady
Wages have risen for the first time in more than a year casting more doubt on potential interest rate cuts in the UK.
Unemployment was unchanged at 4.3% in the three months to October, said the Office for National Statistics, but pay including bonuses rose to 5.2%.
Job vacancies fell again and the number of employees on the payroll fell by 22,000 (0.1%), though employment is still up 160,000.
The ONS has admitted there have been issues with the reliability of its numbers, but said its estimate for November is for a 35,000 fall in payrolled employees.
7.15am : Poor start expected in London
FTSE 100 was tipped to open lower again after yesterday’s 38 point fall.
Financial spread betters were pencilling in a similar fall when markets open today with hopes for a significant Santa Clause rally looking a little forlorn.
Plastics distributables giant Bunzl (LON:BNZL) is among the early reporters and confirmed a £200 million buyback for 2025 when it also expects robust revenue growth, said the trading update.
Elsewhere, Bitcoin’s rise continues, with the price topping US$107,000 as Donald Trump reiterated plans to create a US strategic reserve for crypto similar to its oil holdings.
Bitcoin specialist MicroStrategy being added to the Nasdaq 100 index also helped sentiment for the cryptocurrency said commentators.
5.00am: Unemployment, Bunzl and Hollywood Bowl on agenda
UK unemployment figures are due on Tuesday, while Hollywood Bowl and Bunzl will be among those to update.
Can Hollywood Bowl remain an unlikely bright spot... Read more
Further buybacks are expected by analysts from Bunzl... Read more
Announcements due:
Finals: Hollywood Bowl Group PLC (LON:BOWL)
Trading updates: Dunedin Enterprise Investment Trust, Bunzl PLC, Capita PLC (LON:CPI)
Finals: Chemring (LON:CHG) Group PLC
AGMs: Gfinity, GS Chain, Netcall
Economic news: Unemployment (UK), Retail Sales (US), Industrial Production (US)
Read more on Proactive Investors UK
Disclaimer
Written By: Proactive Investors
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.