Sharecast - The FTSE 100 was down 0.5% at 7,390.54.
Russ Mould, investment director at AJ Bell, said: "The FTSE 100 dipped on Tuesday as investors awaited the latest inflation reading from the US.
"US markets were broadly flat overnight, with Asian indices subsequently making modest progress, as everyone is on tenterhooks ahead of the consumer prices data. The market feels on the cusp of performing a victory parade to celebrate the battle against inflation being won but it is not there yet, with central banks pushing back against the idea rates have definitely peaked.
"Mixed UK employment data showed real pay growing at its fastest rate in two years - which may cause some consternation on Threadneedle Street but is potentially good news for consumer-facing businesses if it means people have a bit more disposable income in their pockets in the crucial Christmas trading period."
The US consumer price index for October is due for release at 1330 GMT.
On home shores, figures released by the Office for National Statistics showed that wage growth eased in the three months to September, but earnings growth outstripped inflation, while the unemployment rate was unchanged.
Average wage growth including bonuses fell to 7.9 cent from an upwardly-revised 8.2.% the month before. This compares to inflation of 6.7%. Economists were expecting wage growth including bonuses to fall to 7.4%.
Excluding bonuses, wage growth eased to 7.7% in the three months to September, from 7.8%. This was still among the highest annual growth rates since comparable records began in 2001, the ONS said.
The unemployment rate was steady at 4.2%.
The data also showed that in August to October, the estimated number of vacancies fell by 58,000 on the quarter to 957,000. Vacancies declined in 16 of the 18 industry sectors.
In addition, the number of payrolled employees is estimated to have increased by 33,000 on September figure to 30.2m. The data for September was revised from a decrease of 11,000 to an increase of 32,000.
ONS director of economic statistics, Darren Morgan, said: "Our labour market figures show a largely unchanged picture, with the proportions of people who are employed, unemployed or who are neither working nor looking for a job all little changed on the previous quarter.
"The number of job vacancies fell for the 16th straight month. Nevertheless, vacancies still remain well above their pre-pandemic levels.
"With inflation easing in the latest quarter, real pay is now growing at its fastest rate for two years."
In equity markets, there was another deluge of releases.
Vodafone fell as it reiterated full-year guidance but reported a 4.3% drop in half-year group revenues and a 44% decline in operating profits.
Tobacco and vaping giant Imperial Brands (LON:IMB) nudged down as it said full-year revenues were flat as lower tobacco volumes were offset by strong growth in next-generation products (NGP).
M&G was knocked lower by a downgrade to ‘sector perform’ from ‘outperform’ at RBC Capital Markets.
Molten metal flow engineer Vesuvius slumped as it said it was still set to meets its full-year expectations, despite weaker market conditions.
On the upside, sales, marketing and support services group DCC (LON:DCC) surged as it announced the acquisition of Progas, a German distributor of liquified petroleum gas, for around €160m (£140m), and reported a 12% increase in first-half adjusted operating profit.
Events organiser Informa gained as it lifted its full-year profit and revenue expectations, hailing continuing strong growth across its portfolio.
Mining and commodities company Glencore (LON:GLEN) was up after saying it was spending $6.9bn to buy a 77% stake in Teck Resources' steelmaking coal business in Canada's Rocky Mountains, Elk Valley Resources (EVR). Miners more generally were in the black.
Oxford Instruments (LON:OXIG) rallied as it posted a jump in first-half profit, revenue and the order book, with "“particularly good" growth in Research & Discovery.
Market Movers
FTSE 100 (UKX) 7,390.54 -0.48%
FTSE 250 (MCX) 17,981.57 0.38%
techMARK (TASX) 4,058.56 -0.09%
FTSE 100 - Risers
DCC (CDI) (DCC) 5,052.00p 8.27%
Informa (INF) 736.60p 4.93%
Convatec Group (CTEC (LON:CTEC)) 215.20p 3.16%
Glencore (GLEN) 443.50p 3.03%
B&M European Value Retail S.A. (DI) (BME) 544.60p 2.60%
Ocado Group (LON:OCDO) 523.80p 2.15%
Rightmove (RMV) 490.70p 1.47%
Anglo American (JO:AGLJ) (AAL) 2,058.00p 1.30%
SEGRO (SGRO) 776.80p 1.22%
Taylor Wimpey (LON:TW.) 120.50p 1.18%
FTSE 100 - Fallers
Smith (DS) (SMDS) 285.60p -3.94%
M&G (MNG) 202.80p -2.31%
Vodafone Group (LON:VOD) 75.77p -2.11%
Entain (LON:ENT) 875.40p -1.82%
Shell (LON:RDSa) (SHEL) 2,614.00p -1.60%
British American Tobacco (LON:BATS) 2,502.50p -1.57%
Pershing Square (NYSE:SQ) Holdings Ltd NPV (PSH) 2,992.00p -1.51%
Mondi (LON:MNDI) 1,379.50p -1.46%
BT Group (LON:BT.A) 121.15p -1.46%
Endeavour Mining (EDV (LON:EDV)) 1,605.00p -1.29%
FTSE 250 - Risers
Wizz Air Holdings (LON:WIZZ) 1,779.50p 6.37%
Oxford Instruments (OXIG) 2,025.00p 5.25%
Dr. Martens (DOCS) 112.80p 4.16%
Watches of Switzerland Group (WOSG) 592.00p 3.77%
Indivior (INDV) 1,300.00p 3.26%
Ceres Power Holdings (LON:CWR) 191.60p 3.01%
British Land Company (BLND) 328.70p 2.88%
GCP Infrastructure Investments Ltd (GCP) 67.50p 2.74%
Elementis (LON:ELM) 125.80p 2.61%
Sequoia Economic Infrastructure Income Fund Limited (SEQI) 82.00p 2.50%
FTSE 250 - Fallers
Vesuvius (VSVS) 400.00p -5.44%
Bank of Georgia Group (LON:BGEO) 3,415.00p -4.07%
Me Group International (MEGP) 139.00p -2.80%
Digital 9 Infrastructure NPV (DGI9) 49.60p -1.78%
AJ Bell (AJB) 262.40p -1.72%
Bakkavor Group (BAKK) 86.00p -1.60%
Ithaca Energy (LON:ITH) 156.30p -1.57%
Harbour Energy (LON:HBR) 232.00p -1.32%
Just Group (LON:JUSTJ) (JUST) 82.60p -1.31%
Abrdn (ABDN) 164.55p -1.26%