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FTSE 100 recovers as labour market tightens

by LLB Reporter
14th Dec 21 11:40 am

The FTSE 100 was off to a strong start on Tuesday, recovering some of yesterday’s losses as investors await the big central bank action to come this week and as concern over the Omicron variant continues to wax and wane.

AJ Bell investment director Russ Mould said: “More signs of a tightening jobs market may be good news for employees but could also add to inflation concerns ahead of the Bank of England’s meeting on Thursday.

“However, a move on rates looks unlikely given the uncertainty over the economic impact of Omicron.

“News that French telecoms tycoon Patrick Drahi’s firm Altice had boosted its stake in BT seems to have provoked consternation in the market, with the shares slumping, potentially amid some disappointment that a full bid doesn’t look to be forthcoming, at least in the short-term.”

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