London's FTSE 100 nudged up 0.1% this morning, following two consecutive days of gains. The pharmaceutical, biotech, and industrial support sectors led the charge. However, the automobile and parts sector lagged, dragged down by a 4% drop in Dowlais Group shares. The company is considering selling its GKN Powder Metallurgy unit and has slashed its annual revenue forecast.

In a surprising twist, the UK's unemployment rate fell to 4.2% for the April-to-June period, down from 4.4% previously, defying predictions of a rise to 4.5%. Average earnings growth slowed to 5.4%, the lowest in nearly two years. This data should provide some comfort to the Bank of England, suggesting that inflationary pressures are easing.

On the corporate front, Just Group offered a rosy outlook, expecting to surpass its previous 2024 profit forecast. First-half pretax profit was £74 million, down from £117 million a year earlier, but retirement income sales jumped to £2.47 billion from £1.90 billion.

Tate & Lyle announced the appointment of Sarah Kuijlaars as Chief Financial Officer, effective September 16. Kuijlaars previously held CFO roles at De Beers Group and Arcadis NV.

In other news, the UK government unveiled an £800 million investment to enhance internet infrastructure in rural areas, aiming for nationwide gigabit-capable broadband by 2030.

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