U.K. stocks advanced on Wednesday after a survey showed manufacturing activity in the country rose in August.
The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) has been revised higher to 60.3 in August, beating expectations of 60.1.
Companies achieved solid gains in output, new orders and employment despite rising constraints caused by supply chain issues.
The benchmark FTSE 100 climbed 63.20 points, or 0.89 percent, to 7,182 after closing 0.4 percent lower on Tuesday.
Travel & leisure stocks were moving higher, with IAG and EasyJet rising over 2 percent.
WH Smith slumped 5.3 percent after the retailer warned that profitability for the year ending August 2022 will be at the lower end of market expectations.
Utility National Grid rose about 1 percent after the competition regulator cleared its proposed acquisition of the United Kingdom’s largest electricity distribution business.
Market Analysis
FTSE 100 Advances After PMI Data
2021-09-01 09:35:10
