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FTSE 100 Inches Higher After Labor Data

U.K. shares were modestly higher on Tuesday after a government report showed the U.K. jobless rate in the three months to March reached the lowest point since 1975.

The ILO jobless rate remained at 4.2 percent in the first quarter, but down from 4.6 percent a year ago. This was the joint lowest since 1975.

The benchmark FTSE 100 was up 11 points or 0.15 percent at 7,722 in late opening deals after closing 0.2 percent lower the previous day.

Housebuilder Taylor Wimpey rallied 2.3 percent after announcing new goals for the next five years to 2023.

Cairn Energy jumped over 5 percent. The oil & gas firm said that its platform for creating value remains strong and it expects 2018 to be a busy and successful year just as 2017.

Vodafone shares fell 2.6 percent after the telecom group said it expects a slowdown in underlying profit growth this year.

by RTTNews Staff Writer

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