FTSE 100 edges up as consumer stocks offset Vodafone slump

UK's main stock index edged up on Tuesday as weakness in the sterling supported some internationally-focused consumer firms, although Vodafone slumped after it forecast a big drop in fresh cash flow. The telecom giant's stock fell 4% to become the top decliner on the FTSE 100 after the company announced job cuts and forecast a 1.5 billion euro ($1.65 billion) decline in free cash flow this year.

UK's main stock index edged up on Tuesday as weakness in the sterling supported some internationally-focused consumer firms, although Vodafone slumped after it forecast a big drop in fresh cash flow.

The telecom giant's stock fell 4% to become the top decliner on the FTSE 100 after the company announced job cuts and forecast a 1.5 billion euro ($1.65 billion) decline in free cash flow this year. However, the blue-chip FTSE 100 rose 0.2% and the mid-cap FTSE 250 added 0.1%.

The pound slipped after data showed UK unemployment unexpectedly rose in the first quarter, fuelling hopes of a pause in the Bank of England's rate hike cycle. The currency's weakness lifted shares of dollar earners like Unilever Plc and British American Tobacco Plc.

Industrial metals miners slipped 0.2%, tracking easing copper prices on investor worries of patchy economic recovery in top consumer China. Boohoo Group Plc jumped 11.8% after the retailer said it expects an improved performance in its new financial year. ($1 = 0.9084 euros)