UK stocks steady after jobs update

After extending yesterday’s losses early on the FTSE 100 had recovered to regain parity in the first hour of trading on Tuesday, says AJ Bell investment director Russ Mould.

“Some well-received corporate results helped balance out wider downbeat sentiment linked to the signs of a Chinese slowdown which emerged at the beginning of the week and the turmoil in Afghanistan.

“UK jobs figures were a smidge better than expected and certainly didn’t contain anything to alarm the market, US retail sales are likely to draw focus later on.

“Investors will be looking for any signs of cracks in the American recovery in the retail numbers but will also alive to evidence of mounting inflationary pressures.”