London Stocks Decline Amid Jobs Data

London stocks are expected to decline at the open as investors react to disappointing UK economic data, including a 0.1% GDP growth that fell short of expectations, and rising unemployment which reached 4.3%. The FTSE 100 is projected to open down approximately 38 points, reflecting a cautious sentiment following a weak session in Wall Street. In corporate news, Burberry announced an £80 million half-year loss and suspended its dividend, while AstraZeneca reported a 19% revenue increase in the first nine months of the year, prompting an upgrade in guidance. Additionally, Volex's acquisition proposals for TT Electronics were rejected, highlighting ongoing corporate activity amid economic concerns. Federal Reserve Chair Jerome Powell's recent comments indicated a cautious approach to interest rate cuts, further influencing market sentiment. Analysts suggest that slower wage growth and rising unemployment could complicate monetary policy for the Bank of England moving forward.