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Summary
- The FTSE 100 rose 1.20 per cent during afternoon trading, boosted by UK’s PMI data.
- The May PMI data touched a record high of 65.6, up from 60.9 in April.
- European stocks were all in the green, also buoyed by European PMI data released earlier in the day.
The UK’s blue-chip index was trading in the green on Tuesday, buoyed by the release of IHS Markit and CIPS UK Manufacturing Purchasing Managers' Index (PMI), which rose to 65.6 in May, touching a record high, up from 60.9 in April. The rise was attributed to the reopening of the economy boosting activity, and as new orders rose to the fastest pace in the survey’s history since 1992.
The FTSE 100 was trading at 7,107.18, up by 1.20 per cent as of 12:44 PM GMT+1.
(Image Source: Refinitv)
European stocks up
Germany’s DAX touched an all-time peak earlier in today’s session, boosted by PMI data reported by Germany. DAX was up by 1.67 per cent as of 13:17 HRS GMT+1. Meanwhile France’s CAC 40 was up 1.10 per cent, and Italy’s FTSE MIB jumped 1.52 per cent.
Spain’s key index, the IBex 35 was trading higher by 0.70 per cent, while the Swiss SMI rose by 1.16 per cent.
Also Read: FTSE 100 Makes Positive Start Reacting to Upbeat OECD Projection for The UK Post-Covid
Also, the US 30 futures contract was up by 0.75 per cent, and the US 500 futures contract was higher by 0.54 per cent, indicating a positive start to the US markets.
The Dow Jones Industrial Average index last closed up by 0.19 per cent on Friday, while the S&P 500 index ended higher by 0.08 per cent. Meanwhile, the Nasdaq Composite index closed up by 0.09 per cent on 28 May.
Sterling falls against the USD
The Great Britain pound (GBP) was trading lower against the United States dollar (USD) on Tuesday. At around 13:27 HRS GMT+1, the GBP/USD currency pair was down by 0.2753 per cent, trading at 1.4166. The pair’s last close stood at 1.421.
Meanwhile, the GBP/EUR currency pair was trading down by 0.02195 per cent at 1.1589 at around 1330 HRS GMT+1.
Also Read: FTSE 100 swings to weekly gains, but ends flat as AstraZeneca dips in late deals
