FTSE 100 climbs on Rolls Royce layoffs, softer wage growth data
- UK's FTSE 100 rose on Tuesday, as aerospace and defence stocks jumped on layoffs announced by Rolls Royce, while the latest earnings data showing a slowdown in wage growth boosted investor sentiment.Engineering company Rolls-Royce said it would cut 2,000-2,500 roles across its global business as part of a cost-cutting drive, sending shares up 1.9%. The broader aerospace and defense index added 1.1%.
"UK earnings data suggests that signs of slack continue to emerge, highlighting the fragility of the economy as elevated inflation and the Bank of England's rate hikes take their toll on the jobs market," said Victoria Scholar, head of investment at Interactive Investor. Pharma and biotech shares added 1.3% and were the top gainers on the FTSE 100. US pharmaceutical giant Johnson & Johnson is expected to post its quarterly results later in the day.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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