FTSE100 trades above 7000 mark on strengthening manufacturing sector


  • UK manufacturing sector output volume grew at the fastest pace in the last three months as per the industrial trend survey.
  • Crude oil trades above the USD 70 mark after the reports of demand from economic recovery outpacing the crude oil supply in the second half of the year.

FTSE100 is trading modestly in positive territory, up by 0.19%, above the crucial 7000 mark. The UK manufacturing sector showed signs of improvement after output volume grew at the fastest pace in the last three months to July. Manufacturers expect an even stronger outcome in the next three months, as per the latest survey by the CBI Industrial trend survey. Meanwhile, Unilever Plc was down by over 5%, falling the most amongst the FTSE100 stocks. The company said that the surging commodity prices from crude to palm oil could pressure the company’s full-year operating margin.

Meanwhile, the mid-cap focused FTSE250 was up by 1.27% at 22,829 level.

European Markets

Major European markets indexes traded in the green, German blue-chip DAX index was up by 0.91% at 15562, while the CAC40, benchmark index of France was at 6514, up by 0.78%. The European Central Bank said that it would continue its bond-buying at an elevated pace over the next two months; the central bank also said it wouldn’t raise the interest rate around this time.

Currency Markets

The pound continues to trade in the green, up by 0.37% at 1.3761 against the US dollar. The foreign exchange market was giving mixed signals, with safe haven dollar backtracking a bit. The EUR/ GBP currency pair traded at 0.8559, down by 0.47% the rise in Covid-19 cases in the UK, along with slow progress over the Northern Ireland Protocol of the Brexit deal, might continue to set the direction of the British pound in coming days.


Brent crude oil contract trades at USD 72.67, up by 0.60%. Meanwhile, WTI crude oil in the August future traded at USD 70.72. The crude oil continues to rally after the strong gain in the previous session as investors anticipate a tighter crude oil supply until the end of the year. As per the market report, demand due to economic recovery from the coronavirus crisis is set to outstrip the supply.

Gold August futures contract was marginally up by 0.11% at USD 1805 per ounce. The US reported higher Initial Jobless claim data for the week. Investors await the existing home sales data to releases ahead in the day.


Major cryptocurrency traded in the positive zone today, with Bitcoin trading at the USD 32074, up by 1.52%. At the same time, Ethereum traded at USD 1987, up by 5.04%.

Asian Markets

Major Asia Pacific indexes closed the day on a positive side, with Australia’s ASX200 closed at 7386, up by 1.06%. Nikkei 225 of Japan closed higher by 0.58% at 27,548. India’s Nifty 50 closed at 15824, up by 1.23%. Shanghai Composite of China closed in green, up by 0.34% at 3,574, and Hong Kong’s Hang Seng index snapped the session higher by 1.84% at 27700.