{"id":49435,"date":"2024-07-18T09:18:17","date_gmt":"2024-07-18T09:18:17","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2024\/07\/18\/ftse-100-climbs-as-wage-growth-slows\/"},"modified":"2024-07-18T09:18:17","modified_gmt":"2024-07-18T09:18:17","slug":"ftse-100-climbs-as-wage-growth-slows","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2024\/07\/18\/ftse-100-climbs-as-wage-growth-slows\/","title":{"rendered":"FTSE 100 Climbs As Wage Growth Slows"},"content":{"rendered":"<div style=\"text-align:center\"><\/div><p> \n<\/p>\n<div id=\"ctl00_CPI_dvBody\">\n<p> U.K. stocks advanced on Thursday as data showed U.K. wage growth softened in the three months to May period, raising hopes of interest rate cuts ahead of the Bank of England&#8217;s rate decision next month. <\/p>\n<p>Wage growth slipped below 6 percent for the first time in almost two years in a sign that the labor market is cooling.<\/p>\n<p>Annual pay growth, excluding bonuses, averaged 5.7 percent between March and May, down from 5.9 percent previously &#8211; according to figures from the Office for National Statistics.<\/p>\n<p>The unemployment rate came in at 4.4 percent in March to May period, unchanged from the preceding three months, matching economists&#8217; forecasts. <\/p>\n<p>Payroll employment increased 16,000 from the previous month to 30.4 million in June. In the second quarter, the number of vacancies decreased by 30,000 sequentially to 889,000.<\/p>\n<p>Although the wage data is encouraging, Capital Economics&#8217; economist Ashley Webb said the timing of the first interest rate cut will be in September instead of August. Still, it is a close call, he noted.<\/p>\n<p>The benchmark FTSE 100 was up 67 points, or 0.8 percent, at 8,254 after edging up 0.3 percent on Wednesday. <\/p>\n<p>Energy stocks tracked oil prices higher, with BP rising 1.5 percent and Shell adding 1.3 percent. <\/p>\n<p>3i Group gained 1.4 percent after the private equity and infrastructure investment firm said it had an &#8220;encouraging start&#8221; to the new financial year.<\/p>\n<p>Frasers Group surged nearly 9 percent. The fashion and retail giant released targets for its current fiscal year above market forecasts. <\/p>\n<\/p>\n<\/div>\n<p><script type=\"text\/javascript\">\n        window.fbAsyncInit = function () {\n            FB.init({\n                status: true,\n                cookie: true,\n                xfbml: true\n            });\n        };\n        (function (d) {\n            var js, id = 'facebook-jssdk'; if (d.getElementById(id)) { return; }\n            js = d.createElement('script'); js.id = id; js.async = true;\n            js.src = \"https:\/\/connect.facebook.net\/en_US\/all.js\";\n            d.getElementsByTagName('head')[0].appendChild(js);\n        }(document));\n    <\/script><br \/>\n<br \/>\n<br \/>FTSE 100 Climbs As Wage Growth Slows<\/a><br \/>\n<br \/>2024-07-18 09:18:17<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.K. stocks advanced on Thursday as data showed U.K. wage growth softened in the three months to May period, raising hopes of interest rate cuts ahead of the Bank of&#8230;<\/p>\n","protected":false},"author":2,"featured_media":49436,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.unsplash.com\/photo-1531412501799-1b4c354ca957?ixid=MXwxMjA3fDB8MHxwaG90by1wYWdlfHx8fGVufDB8fHw=&ixlib=rb-1.2.1&auto=format&fit=crop&w=2734&q=80","fifu_image_alt":"","footnotes":""},"categories":[29],"tags":[],"class_list":["post-49435","post","type-post","status-publish","format-standard","has-post-thumbnail","category-euro-markets"],"_links":{"self":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49435","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/comments?post=49435"}],"version-history":[{"count":0,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/posts\/49435\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media\/49436"}],"wp:attachment":[{"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/media?parent=49435"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/categories?post=49435"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pantheregroup.com\/api\/wp\/v2\/tags?post=49435"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}