U.K. unemployment rate drops again, as British stocks open at highest level since February 2020

The U.K. unemployment rate fell to 4.7% in the February to April period, government data showed, marking the fourth straight month of declines after the key labor figure was measured at 4.8% between January and March.

In addition, the ONS said the number of job vacancies in the period from March to May was 758,000 — just 27,000 below pre-pandemic levels in January to March 2020. The news on Monday sent shares in the likes of Associated British Foods ABF, +2.88% tumbling. The owner of fashion retailer Primark offers only in-store shopping, with no online option for customers, and as such is highly sensitive to social-distancing measures. But ABF was the biggest riser in the FTSE 100 on Tuesday, as analysts pointed to helpful clarity over the extension of the restrictions.

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