Investing.com -- British stocks closed slightly lower on Tuesday, following gains from the U.S.-China trade deal, while newly released economic data showed that the U.K. unemployment rate rose in March.
The blue-chip index FTSE 100 fell 0.05% and the British GBP/USD rose 0.8% against the dollar to 1.3272.
Meanwhile, DAX index in Germany rose 0.4%, the CAC 40 in France gained 0.3%.
BoE’s Pill warns U.K. inflation could stay above target
Bank of England Chief Economist Huw Pill warned that inflation in the U.K. might run hotter than the central bank currently expects, potentially requiring interest rates to stay elevated for longer than markets are predicting.
Speaking at a London School of Economics event, Pill said inflation could persist above the BoE’s 2% goal, signaling a more cautious stance on rate cuts.
U.K. unemployment data
The U.K. labor market showed signs of cooling in March, with the jobless rate ticking up as companies braced for rising employment costs ahead of any potential fallout from unpredictable U.S. trade policies under President Donald Trump.
Figures released by the Office for National Statistics revealed that the unemployment rate rose to 4.5% in the three months to March, in line with forecasts and up from 4.4% in February.
Meanwhile, regular pay growth, excluding bonuses, slowed to an annual pace of 5.6%, down from 5.9% in the previous period and falling short of the anticipated 5.7%.
UBS upgrades Entain to Buy
UBS Global Research raised its rating on Entain PLC (LON:ENT) to Buy from Neutral in a note published Tuesday, pointing to ongoing operational progress and an appealing valuation relative to industry peers.
Shares of the sports betting and gaming firm climbed 6%.
UBS said it sees the company entering a recovery phase, with significant improvements expected over 2025 and 2026.
IQE sees FY25 revenue in line with forecasts
U.K.-based semiconductor firm IQE PLC (LON:IQE) said it anticipates its fiscal 2025 revenue will align with current market expectations, as the company explores the possible sale of its Taiwan operations.
IQE cited ongoing macroeconomic uncertainty affecting global markets, noting that some customers have been relying on existing inventory rather than placing new orders.
This pattern, observed in the first quarter, is expected to stabilize during the second half of the year.
Bytes posts £217 mln revenue, proposes special dividend
Bytes Technology Ltd (LON:BYIT) posted headline earnings per share (HEPS) of 22.78 pence and revenue of £217.1 million for the fiscal year ending 28 February 2025.
Alongside its results, the company proposed a final dividend of 6.9 pence per share and a special dividend of 10.0 pence per share, both subject to shareholder approval.
The revenue reflects the total income generated from its business operations during the year.
Wickes Group reports 5.5% revenue rise
Wickes Group PLC (LON:WIX) reported a 5.5% rise in like-for-like revenue to £533.1 million for the 17 weeks ending April 26, driven largely by stronger retail sales.
Despite the growth, the home improvement retailer flagged ongoing cost pressures and a cautious consumer environment.
It also reiterated full-year pretax profit guidance of between £45.6 million and £51 million.
Marston’s shares jump after strong interim results
Shares of Marston’s PLC (LON:MARS) rose over 3% on Tuesday following the release of its robust interim results, highlighting notable strategic advancements and an optimistic outlook for the rest of the year.
The U.K. pub operator reported total revenue of £427.4 million for the 26 weeks ending March 29, 2025, maintaining stability despite the impact of approximately £50 million in disposals from the prior fiscal year.
DCC reports profit growth, proposes dividend increase
DCC plc (LON:DCC) announced a 4.9% rise in adjusted operating profit to £703.6 million for the fiscal year ending March 31, 2025, with the energy division leading the growth, reporting an 8.5% increase on a constant currency basis.
The Dublin-based group also proposed a 5% boost to its annual dividend, bringing the total to 206.40 pence per share.
M&S reports cyberattack compromising customer data
In other company news, Marks and Spencer Group PLC (LON:MKS) announced on Tuesday that a cyberattack, which has affected its online operations for more than three weeks, resulted in the breach of some customer personal data.
Providing an update on the cyber incident initially reported on April 22, 2025, the retailer stated it has taken steps to secure its systems and enlisted top cybersecurity professionals to manage the situation.