UK jobs market in focus as employment under pressure and radar

The Market Report with Katie Pilbeam.

FTSE 100 headed lower as the US dollar continued its recent decline while new figures showed the UK jobs market is not rebounding. London’s blue-chip index dropped 30 to 6,970.  

Britain’s jobless rate fell only slightly to 4.9% in the three months to February, though lockdown rules were in place for most of the period. The Office of National Statistics (ONS) said the jobs market was subdued but “broadly stable”.

Associated-British-Foods-PLC/]) said Primark notched up record sales in the first week after reopening in England and Wales. Over half of the stores of the fast-fashion retailer, which doesn’t have an e-commerce platform, broke their own sales records.

LON:RIO/Rio-Tinto-PLC/]) said production in the first quarter was in line with guidance despite significant rainfall hampering iron ore output in Australia. The international mining group also retained its output expectations for the year.

Among the small caps, discoverIE Group PLC () has once again raised profit expectations for the full-year. The supplier of customised electronics said trading momentum held up in February and March. Similarly, Brickability

Group PLC’s () full-year revenues and earnings will top expectations despite the challenges posed by pandemic. The construction materials group said the underlying demand for UK housing remains robust.

Esken Limited () has agreed to sell Stobart Air and Carlisle Airport to private investment firm Ettyl. It will now focus solely on Southend Airport, the hub of its current operations.