The FTSE 100 slipped as hopes for further interest rate cuts following a slowdown in wage growth were offset by falling oil prices that scuppered energy and mining stocks.
The blue-chip index shed 0.2%, or 18 points, to 8,274 after the Office for National Statistics reported wage growth had slowed again, providing more impetus for the Bank of England to cut the cost of borrowing further.
Before inflation, wages from June to August rose 4.9% on an annualised basis excluding bonuses and 3.8% with bonuses included. After inflation, wages rose 1.9% excluding bonuses and 0.9% including bonuses.
