British stocks open lower ahead of US payrolls data

The mid-cap FTSE 250 was down 0.2%, and was poised to log a second consecutive weekly loss. The U.S. nonfarm payrolls data, due at 1230 GMT, is closely watched for the narrative of an easing labour market conditions.

The FTSE 100 edged lower in early trade on Friday as investors awaited a key U.S. jobs report due later in the day, while industrial metal miners added to losses.

By 0721 GMT, the blue-chip FTSE 100 edged 0.1% lower to 8,277.79 points. It is up 0.1% for the week and is on track to break a three-week losing streak. The mid-cap FTSE 250 was down 0.2%, and was poised to log a second consecutive weekly loss.

The U.S. nonfarm payrolls data, due at 1230 GMT, is closely watched for the narrative of an easing labour market conditions. Any upside surprise could deliver a nasty shock to markets. Following rate cuts by the European Central Bank and the Bank of Canada earlier this week, traders expecting that the U.S. Federal Reserve might initiate cuts as soon as September, making the payrolls data a make or break.

Industrial metal miners lost 0.6% after copper prices slid on mixed Chinese trade data. Among individual stocks, Redcentric fell 3.9% after Wiit said it had no plans to make a takeover offer for the IT services group.

C&C Group was the top loser on the mid-cap index with a 9.6% drop after the Irish drinks producer announced prior year accounting adjustments.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)