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FTSE 100 Extends Losses On Risk-off Sentiment

U.K. stocks fell on Tuesday as a slew of negative catalysts such as a pronounced drop in the yuan, escalating protests in Hong Kong and surprise primary election results in Argentina dented investors' appetite for risk.

In economic releases, the U.K. unemployment rate increased in three months to June while average earnings grew at the fastest pace in eleven years, data from the Office for National Statistics showed.

The jobless rate increased by 0.1 percentage points sequentially to 3.9 percent in three months to June. Unemployment rose by 31,000 to 1.33 million.

In three months to June, employment increased by 115,000 to reach a record 32.81 million. But the employment rate remained unchanged at 76.1 percent.

The benchmark FTSE 100 was down 41 points or 0.57 percent at 7,185 after
declining 0.4 percent in the previous session.

Tour operator TUI rallied 2 percent as it stuck to its earnings guidance for the full year.

Precious metals miner Fresnillo jumped 2.6 percent as gold prices hit over six-year high on risk-off sentiment.

Luxury carmaker Aston Martin tumbled 3.4 percent. According to the Financial Times, hedge funds have taken record short positions in the debt and equity of the company.

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