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FTSE 100 up 0.8%, FTSE 250 rises 0.5%

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AstraZeneca ( AZN ) hits record high

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UK unemployment rises to 5%, highest in four years

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Vodafone ( VOD ) shares climb after strong German performance

By Utkarsh Hathi

Nov 11 (Reuters) - London's export-focused FTSE 100 rose

to a new intraday record peak on Tuesday, buoyed by a weakening

pound after economic data revealed rising unemployment and

slowing wage growth, while drugmaker AstraZeneca ( AZN ) climbed to an

all-time high.

The blue-chip FTSE 100 index rose 0.8% by 1210 GMT,

building on its record close posted in the previous session.

Meanwhile, the mid-cap FTSE 250 gained 0.5%.

AstraZeneca ( AZN ) rose 1.7% to surpass its September 2024 peak and

solidify the company's position as the UK's largest listed stock

by market value, driven by momentum from last week's

forecast-beating quarterly results.

Meanwhile, the UK labour market showed clear signs of

cooling, with unemployment increasing to 5%, the highest in four

years, while wage growth continued to slow. These figures have

bolstered expectations for a Bank of England rate cut in

December.

"There's more slack building in the labour market - and

perhaps more so than assumed by the MPC in its November

projections; and two, pay momentum continues to slow. Both

should be encouraging for the MPC," said Deutsche Bank's chief

economist Sanjay Raja.

The pound fell against the dollar and British government

bonds rallied as the figures aligned with the central bank's

insistence on seeing clearer signs of easing inflation before

proceeding with another rate cut.

In the market, media stocks gained 2.7% with

advertising and marketing firm 4imprint Group ( FRRFF ) surging

17%, after it raised full-year profit and revenue forecast.

Vodafone ( VOD ) reached a two-year high, climbing 5.5%,

after a strong performance in Germany helped the company to

raise its annual profit forecast and lift dividends for the

first time in eight years.

Scientific tools maker Oxford Instruments ( OXINF ) surged

12.7%, on track for its biggest single-day gain in nearly four

years, on improved order momentum.

On the downside, food supplier Hilton Food ( HLTFF ) slumped

22.5% to the lowest since 2015 after it said that profit growth

is likely to be challenging in the next financial year.