(Alliance News) – Stock prices in London opened mostly higher on Tuesday, while in Europe Germany’s annual inflation rate increased as expected and UK unemployment exceed expectations.
The UK’s unemployment rate came in at 5.2% for the three months ended December, up from 5.1% in the three months ended November, and above FXStreet-cited consensus, which forecast another 5.1% reading, the Office for National Statistics reported.
The number of payrolled employees fell by 130,000 or 0.4% on-year, and by 46,000 or 0.2% compared with the prior quarter. Average earnings, including bonuses, increased 4.2%, slowing from 4.6% and missing the 4.6% consensus estimate.
The FTSE 100 index opened up 38.22 points, 0.4%, at 10,511.91. The FTSE 250 was up 29.04 points, 0.1%, at 23,404.51, and the AIM all-share was down 2.30 points, 0.3%, at 809.04.
The Cboe UK 100 was up 0.3% at 10,46.51, the Cboe UK 250 was up 0.1% at 20,719.51, and the Cboe small companies was marginally lower at 18,596.83.
Antofagasta was the lowest FTSE 100 stock, down 3.3%.
The miner reported that pretax profit climbed 53% to USD3.16 billion in 2025, while earnings before interest, tax, depreciation and amortisation increase 52% to a “record” USD5.20 billion.
Antofagasta also more than doubled its proposed final dividend to 48.0 US cents, also more than doubling its total dividend to 64.6 cents.
“Copper’s fundamental value continues to be demonstrated through sustained demand growth, driven by the global structural trends of energy security and electrification, which saw copper achieve record prices in 2025,” Chief Executive Ivan Arriagada commented.
Raspberry Pi was the highest FTSE 250 performer, jumping 11%. SSP came second, up 6.7%, after UBS raised its recommendation to ‘buy’.
Plus500 was the worst performer, down 6.3%.
The trading platform operator’s three top executives have sold 1.5 million existing shares at GBP44.78 per share, worth GBP66.7 million, to Goldman Sachs International. The shares represent a 2.1% stake.
Following the sale, the trio – consisting of Chief Executive Officer David Zruia, Chief Financial Officer Elad Even-Chen and Chief Marketing Officer Nir Zats – continues to hold a combined 3.9% stake and has agreed not to sell any further shares for another year.
Elsewhere in London, boohoo confirmed plans for an equity fundraise of approximately GBP35 million, with “some of its largest institutional shareholders” expressing support. The online retailer also said it is in advanced discussions with its lending syndicate about providing “greater financial flexibility to deliver its turnaround and associated growth plan”.
boohoo added that this turnaround plan is “going apace” and that it remains confident of delivering GBP50 million in adjusted Ebitda for the year ending February 28, in line with its previously upgraded guidance, as well as double-digit adjusted Ebitda growth for the year ending in 2027.
Acuity RM was up 1.4%, but was 14% higher just after markets opened.
The cybersecurity software company announced that it has won a new three-year contract with the British government, worth GBP178,497 in total.
In European equities on Tuesday, the CAC 40 in Paris was up 0.2%, while the DAX 40 in Frankfurt was down 0.1%.
Germany’s annual inflation rate increased as expected in January as the growth in food prices accelerated, data published by the Federal Statistical Office.
The country’s annual consumer price index inflation rate rose to 2.1% in January from 1.8% in December. Monthly, consumer prices rose 0.1% in January compared to 0.0% in December.
On a harmonised level allowing for EU-wide comparison, the annual German CPI rate stood at 2.1%, up from 2.0% in December. Monthly, harmonised consumer prices fell 0.1% in January after climbing 0.2% in December.
The pound was quoted lower at USD1.3587 early on Tuesday in London, compared to USD1.3629 at the equities close on Monday. The euro stood at USD1.1843, against USD1.1854. Against the yen, the dollar was trading at JPY152.78 compared to JPY153.44.
In Asia on Tuesday, the Nikkei 225 index in Tokyo lost 0.4%. In China and Hong Kong, markets are mostly closed this week for New Year celebrations, with Hong Kong set to re-open on Friday. The S&P/ASX 200 in Sydney closed up 0.2%.
In the US on Monday, financial markets were closed.
The yield on the US 10-year Treasury was quoted at 4.02%, narrowing from 4.06% near the London close on Friday. The yield on the US 30-year Treasury was quoted at 4.66%, narrowing from 4.70%.
Brent oil was quoted at USD67.83 a barrel early in London on Tuesday, down from USD68.42 late Monday.
Gold was quoted lower at USD4,922.86 an ounce against USD4,985.30 on Monday.
Still to come on Tuesday’s economic calendar, there are ZEW economic sentiment surveys from the eurozone and Germany.
By Emma Curzon, Alliance News reporter
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