The FTSE 100 and European stocks had a mixed start on Tuesday, with the UK’s benchmark flat following news that the UK unemployment rate was higher than expected.
The FTSE 100 (^FTSE) lost 0.12% to 7,376 minutes after opening, while the CAC (^FCHI) in Paris advanced 0.42% to 6,636 points. In Germany, the DAX (^GDAXI) gained 0.28% to 14,353.
Vodafone (VOD.L) tumbled 4.91% after the mobile operator lowered its full year earnings forecast and announced plans for a further €1bn of cost savings by 2026.
Read more: Paris overtakes London to become Europe’s biggest stock market
The telecommunications giant warned that the global macroeconomic climate has worsened in the face of rising energy costs and broader inflation. It has lowered its core earnings guidance, and its predictions for free cash flow.
Sterling (GBPUSD=X) has gained 0.62% against the dollar on Tuesday morning making a pound worth a little over $1.18. The currency is also trading strongly against the euro, up 0.2%, making a euro worth 88p.
Meanwhile, Brent crude (BZ=F) has retreated to $92/barrel.
S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green as trade began in Europe.
In Asia, Tokyo’s Nikkei 225 (^N225) climbed 0.10% to finish at 27,990 while the Hang Seng (^HSI) in Hong Kong climbed 3.78% to 18,285. The Shanghai Composite (000001.SS) also made gains, advancing 1.64% to 3,134 points.
Read more: UK economy at ‘significant’ risk of recession in 2023, says think tank
On Wall Street, stocks finished Monday in negative territory as Amazon (AMZN) became the latest tech giant to announce major job cuts.
The Dow Jones (^DJI) slipped 0.63% to close at 33,536. The S&P 500 (^GSPC) lost 0.89% to finish at 3,957 points and the tech-heavy Nasdaq (^IXIC) climbed 1.12% to 11,196.
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