U.K. stocks were moving lower on Tuesday, though markets came off from their day’s lows after manufacturing data surprised on the upside.
The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) unexpectedly improved to 58.2 in November versus 57.3 expected and 57.8 – October’s final reading.
The benchmark FTSE 100 was down 29 points, or 0.4 percent, at 7,226 amid fears around a resurgence in Covid-19 cases in Europe and elsewhere.
Medical technology company Smith & Nephew dropped 1.3 percent after announcing the launch of CORI handheld robotics, an advanced system for both total and partial knee arthroplasties.
Telecom Plus, the supplier of utility services, jumped 6.6 percent after backing its FY 2022 guidance.
Foodservice company Compass Group rose nearly 2 percent as it reported an increase in pretax profit for fiscal 2021.
Market Analysis
FTSE 100 Off Day’s Lows After PMI Data
2021-11-23 09:46:46
