United Kingdom: FTSE 100 Trades Lower after Jobs Data.

The FTSE 100 traded more than 0.5% lower on Tuesday, after a 0.4% gain in the previous session, as rising oil prices and weak UK employment data weighed on sentiment. Banks were among the main decliners, with HSBC Holdings, Barclays and Lloyds Banking Group falling between 0.7% and 2.1%. Mining stocks also came under pressure as gold, silver and copper prices declined, with Rio Tinto, Glencore and Anglo American down 1.5%, 2% and 1.1%, respectively. UK payroll data showed that employers cut 26,000 jobs in August, following a revised 19,000 decline in July and significantly exceeding economists’ expectations for a 5,000 reduction. The figures highlighted continued weakness in the labour market ahead of Thursday’s Bank of England interest-rate decision. Despite the payroll decline, unemployment remained at 4.9% in the three months to July, while regular wage growth was unchanged at 3.5%.