London Markets Anticipate Opening Decline with Focus on US Inflation and UK Jobs Data

<img src="https://fxopen.com/blog/en/content/images/2023/11/ftse100.jpeg" alt="London Markets Anticipate Opening Decline with Focus on US Inflation and UK Jobs Data" /><p>As investors remain attuned to the imminent US inflation report and scrutinise the latest UK jobs data, London stocks are poised to open on a downward trajectory.</p><p>The FTSE 100 opened approximately 10 points lower at 7,416 this morning in the London session.</p><!–kg-card-begin: html–><div>
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</div><!–kg-card-end: html–><p>Earlier figures from the Office for National Statistics unveiled that wage growth in the three months to September experienced a mild deceleration. However, earnings growth surpassed inflation, while the unemployment rate maintained its stability.</p><p>Including bonuses, average wage growth dipped to 7.9%, down from an upwardly-revised 8.2% the previous month. This contrasts with the 6.7% inflation rate. Economists had anticipated a decline to 7.4% in wage growth, including bonuses.</p><p>Excluding bonuses, wage growth eased to 7.7% in the same period, slipping from 7.8%. The unemployment rate remained steady at 4.2%.</p><p>The Office for National Statistics in the UK noted that labour market figures depict a relatively unaltered scenario, with proportions of employed, unemployed, and those not actively seeking employment showing marginal changes from the previous quarter.</p><p>Despite a 16th consecutive monthly decline in job vacancies, the figures still outpace pre-lockdown levels.</p><p>Although real pay is experiencing its swiftest growth in two years due to a decline in inflation in the latest quarter, it&apos;s crucial to note that inflation remains high; it has just ceased its acceleration.</p><p>Anticipating the day ahead, market participants are eagerly awaiting the US consumer price index for October, scheduled for release at 1330 GMT.</p><p>In the corporate domain impacting London&apos;s FTSE 100 listed stocks, Vodafone Group reported a 4.2% growth in first-half group service revenue, fueled by positive performances in Europe and Africa. Germany and Vodafone Business also witnessed favourable growth. However, group revenue declined by 4.3%, attributed to foreign exchange rate fluctuations and prior-year business disposals, leading to a 44.2% decline in operating profit. Vodafone reiterated its full-year guidance and declared an interim dividend per share of 4.5 euro cents.</p><p>Tobacco giant Imperial Brands disclosed that full-year revenues remained flat, as diminished tobacco volumes were counterbalanced by robust growth in next-generation products. Reported revenues for the 12 months to September totaled £32.5 billion, indicating a 0.2% year-on-year decline. However, tobacco and NGP net revenue showed a positive trend at a constant currency, excluding Russian operations, signalling optimism for the company&apos;s strategic evolution post its exit from the region in April 2022.</p>