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On Thursday, stock prices in London, Paris, and Frankfurt experienced an uptick, bolstered by positive data from the UK’s flash purchasing managers' index and ahead of the upcoming US jobless figures.
In London, the FTSE 100 index increased by 11.79 points, or 0.1%, reaching 8,295.22. Conversely, the FTSE 250 decreased by 18.70 points, or 0.1%, to 21,168.49, while the AIM All-Share slipped by 0.54 points, also 0.1%, settling at 776.27. The Cboe UK 100, Cboe UK 250, and Cboe Small Companies indices saw slight gains of 0.2%, 0.2%, and 0.1%, respectively.
In continental Europe, both the CAC 40 in Paris and the DAX 40 in Frankfurt rose by 0.3%.
The UK’s August flash purchasing managers' index provided a boost, with the composite index rising to 53.4 from July’s 52.8, surpassing the anticipated 52.9. This index, which reflects growth in both the manufacturing and services sectors, suggests accelerated private sector growth. The services PMI reached a four-month high of 53.3, while the manufacturing PMI edged up to a 26-month high of 52.5.
Market participants are now keenly awaiting the Jackson Hole symposium in Wyoming, where Federal Reserve Chair Jerome Powell will speak. The event, hosted by the Federal Reserve Bank of Kansas City, will be attended by central bankers globally. Recent minutes from the Federal Open Market Committee (FOMC) meeting indicated a strong possibility of policy easing if data trends continue, although traders are pricing in only a 67.5% chance of a rate cut in September.
In the US, futures suggest modest gains for major indices, with the Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all set to rise by 0.1%.
The pound strengthened to $1.3122, while the euro reached $1.1144. Against the yen, the dollar traded at ¥145.83. In London, JD Sports Fashion saw a 6.4% rise in its shares following a report of increased sales. Hays experienced a 2.4% increase despite a significant drop in profit, while Macfarlane’s shares fell by 3.3% due to reduced revenue. Brent crude oil was quoted at $76.33 per barrel, and gold was priced at $2,507.20 per ounce.
