skip to Main Content

FTSE rises ahead of manufacturing PMI


With its oil and mining sectors buoyed by that data from Asia the FTSE rose half a percent after the bell. Yet this still saw the UK index struggle to significantly break through the 7150 mark having lost its record-breaking momentum during the second half of January.

The pound, meanwhile, didn’t have quite such a happy start, slipping 0.1% against the dollar (though it did take a decent chunk of change off the Trump-weakened greenback yesterday) but rising 0.2% against the euro. As for the UK’s own manufacturing PMI, analysts are expecting a slight dip month-on-month, from 56.1 to 55.9; it must be noted, however, that it’s a while since those estimates have been on the money.

The Eurozone indices were just as perky as their UK peer this morning. The DAX jumped 0.6% as the day got underway, with the recovering some of the ground it lost in the face of both Tuesday’s super-charged euro and Trump’s trade comments. The region-wide manufacturing PMI is set to be confirmed at 55.1 for January, a slight improvement on December’s 54.9 and the best reading since the middle of 2011.

Like this article? Sign up to our free newsletter.

This article does not constitute investment advice. Do your own research or consult a professional advisor.

The Armchair Trader's 'How to' Guides

Stocks in Focus

We think these smaller companies represent significant growth stories. Read our in-depth reports.

Thanks to our Partners

Our partners are established, regulated businesses and we are grateful for their support.

FP Markets
Back To Top