skip to Main Content
Get your free newsletter: Actionable insight each morning for self-directed investors. 
Home » News » Indices » UK Industrial and Manufacturing Production data in focus this morning

The FTSE was up by 12 points in early trading this morning after a quieter session over in the US following the Columbus Day holiday.

A weaker Dollar is holding back the FTSE 100 multi-nationals but it is Sterling, which has arrested its October decline in recent days, that is likely to provide any driving force this morning with the release of Industrial and Manufacturing Production data.

ADS Securities Analyst, Konstantinos Anthis commented “analysts are expecting a stable printing which should allow sterling to remain on positive footing. However, we have to mention here that last week’s softer PMI levels suggest we could get a bearish surprise in the Production levels today and should that happen then the pound might retreat.”

Commodities are currently the main beneficiaries of a weaker Dollar. Accendo Markets analyst, Mike van Dulken commented “Oil prices trade just shy of yesterday’s highs (US Crude $50, Brent $56), buoyed by a combination of USD weakness, Saudi Arabia cutting exports crude oil allocations for November by 0.5m barrels, and positive OPEC comments about gradual market rebalancing”

He added, “Gold has extended its rebound to 1-week highs, closing in on the late September’s $1290 breakdown, helped by USD weakness and geopolitical uncertainty in several geographies.”

Oops! We could not locate your form.

This article is not investment advice. Investors should do their own research or consult a professional advisor.

Michael Morton

Michael Morton

Michael has worked within the Financial Industry for more than 20 years. Starting out as a financial analyst, he has extensive experience working with fund management groups and brokerages.

With an interest in Stocks and Shares, Funds, ETFs and Commodities, his investment focus is medium to long term gains, with the objective of financial security on retirement, and building wealth for his young children for their adult life. His broker of choice is Hargreaves Lansdown.

Stocks in Focus

Here are some of the smaller companies we follow most closely. They represent significant growth stories in our view. Our in-depth reports detail why we like them.


Subscribe for more stories like this, 8am weekdays - for free!

Get your free daily newsletter: 

Thanks to our Partners

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

FP Markets
Back To Top