Source: Sharecast
The FTSE 100 was called to open around 50 points higher.
Figures released earlier by the Office for National Statistics showed the unemployment rate rose to 4.7% in the three months to May from 4.6% a month earlier, hitting the highest level since early 2021. Economists were expecting the rate to remain unchanged.
Liz McKeown, director of economic statistics at the ONS, said: "The labour market continues to weaken, with the number of employees on payroll falling again, though revised tax data shows the decline in recent months is less pronounced than previously estimated.
"Pay growth fell again in both cash and real terms, but both measures remain relatively strong by historic standards.
"The number of job vacancies is still falling and has now been dropping continuously for three years."
In corporate news, budget airline easyJet said that pre-tax profits had grown to £286,0m in the three months ended 30 June, up £50.0m year-on-year and in line with expectations.
EasyJet said Q3 profit growth was driven by "strong demand" for its primary airport network and benefited from the timing of Easter.
Airline passenger numbers increased 2%, while the load factor improved by 0.2 percentage points.
Ocado Group guided to a slight softening of revenue growth over the second half following a strong first half, in which both the tech and logistics divisions delivered double-digit top-line increases.
Revenues in the six months to 1 June were up 13.2% at £674.0m, with Technology Solutions revenues up 14.9% and Ocado Logistics revenues up 12.1%, while adjusted EBITDA surged to £91.8m from £52.0m the year before.
For the full year, the company is targeting 10% revenue growth within the tech arm and a high mid-single digit percentage increase within logistics.