FTSE 100 Modestly Higher In Cautious Trade After PMI Data

(RTTNews) - UK stocks are up in positive territory on Monday, in line with other markets in Europe, amid slightly easing worries about fresh U.S. tariffs. Investors are also digesting regional manufacturing and services sector activity data, in addition to tracking corporate news.

Investors await greater clarity on U.S. tariffs after U.S. President Donald Trump said there will be "flexibility" on his reciprocal tariff plan and that he would discuss tariffs with Chinese President Xi Jinping.

The benchmark FTSE 100 is up 22.02 points or 0.25% at 8,668.81 about half an hour before noon.

Mining stocks are notably higher, thanks to firm metal prices. Anglo American Plc, Glencore and Antofagasta are up 3.7%, 2.7% and 2.5%, respectively. Rio Tinto is up 2.3% and Fresnillo is advancing 1.8%.

Bank stocks Standard Chartered, Barclays Group, Natwest Group and Lloyds Banking Group are up 1.5 to 2.3%. HSBC Holdings is gaining about 1.1%.

Among other gainers, Pershing Square Holdings, Prudential, Pearson, Polar Capital Technology, Airtel Africa, Scottish Mortgage, Howden Joinery, F&C Investment Trust, Hiscox, Auto Trader Group, Experian, Weir Group and Intertek Group are up 1 to 2.5%.

JD Sports Fashion is down nearly 5%. Vodafone Group is lower by about 3.2%, while British Land, Haleon, BP and Hikma Pharmaceuticals are down 1 to 1.7%.

Flash survey results published by S&P Global showed UK's private sector registered modest growth in the month of March, while the manufacturing sector activity dropped to the lowest level since late 2023.

The S&P Global UK Composite PMI rose to 52.0 in March 2025 from 50.5 in February, surpassing market expectations of 50.3. The index reached its highest level since September, driven by the strongest expansion in the service sector since August.

The S&P Global UK Services PMI rose to 53.2 in March 2025, from February's 51 and surpassing market forecasts of 50.9, according to flash estimates, while the S&P Global Flash UK Manufacturing PMI fell to 44.6 in March 2025 from 46.9 in February, below forecasts of 46.4. The reading pointed to the sixth straight month of worsening conditions in the manufacturing sector.