London midday: Stocks flatten out as recruiters slump on Hays warning
The FTSE 100 was steady at 7,694.93.
Russ Mould, investment director at AJ Bell (LON:AJBA), said investors appeared to be "in a holding pattern until we get the next round of [US] inflation and jobs figures which provide the all-important clues as to central bank interest rate decisions".
On home shores, industry data showed that retailers ended 2023 on the back foot despite a modest uptick in demand in the week leading up to Christmas.
According to the latest BRC-KPMG Retail Sales Monitor, UK total sales increased by just 1.7% in the five weeks to 30 December, compared to a 6.9% rise a year previously.
The increase was below the three-month average of 2.3%, and the 12-month average of 3.6%.
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The jobs report revealed that payrolls increased by 216,000 jobs in December. This was much higher than the initial estimate by economists of 170,000, and well above the 199,000 jobs added in November. This resulted in a sharp upside spike in the U.S. dollar as well as higher yields on U.S. treasuries.
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