UK stocks slip as strong jobs data spurs rate hike worries

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Reuters UK

(Reuters) – UK’s top share index slipped on Tuesday as stronger-than-expected jobs data supported the case for a big interest rate hike by the Bank of England next month, while plunged after the online furniture retailer slashed its forecast. The blue-chip FTSE 100 fell 0.4% by 0712 GMT, while the domestically focussed midcap 250 index slipped 0.3%, tracking weakness in Wall Street indexes overnight. [.N] Britain’s unemployment rate held at 3.8% in the three months to May and the number of people in work rose by the most since the middle of 2021, suggesting the cost-of-living squeeze …

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