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(Sharecast News) - London stocks were set to fall at the open on Tuesday following solid gains in the previous session, as investors mulled the latest UK jobs data.
The FTSE 100 was called to open around 15 points lower.
Figures released earlier by the Office for National Statistics showed that wage growth slowed in January to March, while the unemployment rate ticked higher.
The unemployment rate rose to 4.5% - the highest level since June to August 2021.
Meanwhile, growth in average regular earnings excluding bonuses was 5.6%, down from 5.9%. Including bonuses, earnings growth was 5.5%, down from 5.7%.
Liz McKeown, director of economic statistics at the ONS, said: "Wage growth slowed slightly in the latest period but remains relatively strong, with public and private sectors now showing little difference.
"The broader picture continues to be of the labour market cooling, with the number of employees on payroll falling in the first quarter of the year. The number of job vacancies has also fallen again, with the rate of decline increasing in the last few months."
In corporate news, Bytes Technology announced a special dividend and hiked its full-year payout to shareholders after a solid full-year performance, with profits rising by a double-digit percentage.
The software, security AI and cloud services specialist outfit reported revenues of 217.1m for the 12 months to 28 February, up 4.9% on the previous year, with operating profits up 17.1% at 66.4m.
The firm raised its final dividend by 15% to 6.9p, taking its total payout to 15p (+15%), and also unveiled a 10p special dividend.
Marston's reported solid profit growth for the first half of its financial year, with underlying operating profit up 20.1% to 63.3m and like-for-like sales improving, particularly with a 10.5% rise in the five weeks following the period end.
The London-listed pub operator said that despite stable revenue of 427.4m, it achieved a return to underlying pre-tax profit and expanded margins through operational efficiencies and strategic cost savings. With net debt significantly reduced and continued investment in its pub estate and technology, the group said it was confident in meeting full-year expectations.