London pre-open: Stocks to nudge up as investors mull jobs data
By Michele Maatouk
Date: Tuesday 16 Sep 2025
(Sharecast News) - London stocks were set to nudge up at the open on Tuesday as investors mulled the latest UK jobs data.
The FTSE 100 was called to open around five points higher.
Figures released earlier by the Office for National Statistics showed that the unemployment rate was unchanged in July, in line with expectations.
The rate was estimated to be 4.7% in May to July. The employment rate was 75.2%.
The number of payrolled employees fell, however, by 142,000 year-on-year in July, and by 6,000 month-on-month.
Earnings, meanwhile, were also little changed. Annual growth in employees' average earnings, excluding bonuses was 4.8%, down slightly on June's 5% but in line with expectations.
Including bonuses, and average earnings ticked higher, to 4.7% from 4.6%, also in line with consensus.
ONS director of economic statistics Liz McKeown said: "The labour market continues to cool, with the number of people on payroll falling again, while firms also told us there were fewer jobs in the latest period.
"This weakness is reflected in a slight increase on the quarter in the unemployment rate. The number of vacancies also fell on the quarter, though the rate of decline appears to be slowing.
"Wage growth excluding bonuses edged down further in cash terms, though it remains strong by historic standards."
In corporate news, infrastructure and construction group Kier said trading at the start of its current financial year was slightly ahead of expectations as it reported a 15% jump in profit for the 12 months to June 30.
Pre-tax earnings came in at £78.1m. Kier's order book rose 2% to a record £11bn.
FMCG giant Unilever announced that acting finance lead Srinivas Phatak has been appointed as its permanent chief financial officer, having "performed strongly" since stepping into the position seven months ago.
After a thorough internal and external search process, the board unanimously agreed that Phatak was the best candidate for the role, and he would be appointed effective immediately.
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