U.K. stocks advanced on Tuesday after a survey showed accelerating growth in September.
The final reading of the IHS Markit/CIPS composite Purchasing Managers’ Index (PMI), which combines Britain’s services and manufacturing sectors, edged up to 54.9 from 54.8 in August. That was also higher than the preliminary estimate of 54.1.
The benchmark FTSE 100 climbed 42 points, or 0.6 percent, to 7,053 after ending 0.2 percent lower on Monday.
Higher yields lifted banks, with Lloyds Bank and Standard Chartered Bank rising around 2 percent.
Baker and fast-food chain Greggs jumped 5.6 percent after raising its annual profit forecast.
Turnaround specialist Melrose dropped 2.2 percent after it warned of chip shortages and supply chain problems.
Commercial landlord Great Portland Estates gained 0.7 percent. The company reported its “strongest” quarterly performance since the pandemic took hold.
Market Analysis
FTSE 100 Rises On Growth Optimism
2021-10-05 09:32:07
