The FTSE 100 jumped over 1% to fresh highs near 9,900 on Tuesday as UK unemployment rose to 5%, the highest since 2021, boosting expectations of a Bank of England rate cut next month. Markets now price in an 80% chance of a December move. Blue-chip names helped drive the rally: AstraZeneca and British American Tobacco gained over 2%, while Shell rose about 1.5%, and BP and HSBC added more than 1%. Vodafone surged around 5% after reporting a return to profit in Germany and guiding earnings toward the top of its range. Citi called the results “robust,” noting that Vodafone’s new policy of raising its dividend 2.5% annually should land well with investors, adding extra momentum to the broader index.
