UK Stocks Start Low

**London: 17 October 2023 (TraderMade):** UK shares saw a tepid start on Tuesday, with concerns around the ongoing Middle East conflict taking a toll on mining stocks and investors exercising caution ahead of crucial economic data from the United States.

The FTSE 100 index began the day at 7,630.63. At about 8 AM GMT, the index was at 7671.3. ## Metals decline Metal mining stocks faced a 0.8% decline, while precious metal miners experienced a 0.3% setback. This drop was attributed to the strengthening US dollar and Treasury yields as market participants eagerly await economic data releases and Federal Reserve Chair Jerome Powell's upcoming speech.

## US economic data awaited Investors are keenly observing US retail sales and industrial production data scheduled for later in the day. Powell's speech on Thursday is expected to provide further insights into the U.S. central bank's stance on interest rates.

Furthermore, recent data revealed a slowdown in the regular pay growth among British workers, marking the first deceleration since January after reaching a record high. Job vacancies declined during the three months leading up to the end of August.

These economic indicators further contributed to the caution prevailing in the UK market as investors await critical developments in the global economic landscape.