FTSE 100 Gains Despite Weak PMI Data
(RTTNews) - U.K. stocks advanced on Wednesday despite the latest manufacturing and service sector readings coming in below expectations.
The manufacturing PMI fell from 45.3 to 41.5 in August, hitting a 39-month low, while the services PMI fell from 51.5 to 48.7, touching a 7-month low.
The benchmark FTSE 100 was up 46 points, or 0.6 percent, at 7,317 after closing 0.2 percent higher on Tuesday.
In corporate news, GSK rose about 1 percent after reporting significant positive findings from its first efficacy trial of the 'Shingrix' shingles vaccine in China.
Cohort's, an aerospace defense company, jumped over 4 percent after its unit Systems Engineering & Assessment secured a contract worth 17.5 million pounds from a U.K. customer.
Oil & gas company Ithaca Energy fell nearly 2 percent after posting a drop in first-half attributable profit and revenue.
U.S. Dollar Falls Against Euro, Pound
Swiss Market Ends On Weak Note
European Markets Close Weak On Growth Concerns, Fading Fed Rate Cut Hopes
Canadian Market Rebounds From Early Setback; Technology, Energy Stocks Rise
Bay Street Likely To Open On Weak Note
FTSE 100 Down Sharply As Bond Yields Climb Higher
CAC 40 Sheds About 1.3% On Economic Concerns
