U.K. stocks gave up early gains to turn flat on Thursday after a survey showed that Britain’s construction industry experienced the biggest slide in activity in more than three years last month.
The S&P Global/CIPS construction Purchasing Managers’ Index (PMI) fell to 45.0 from August’s 50.8, its lowest since May 2020.
The all-sector PMI – which includes services, manufacturing and construction – dropped to 48.2 in September, marking its lowest since January 2021.
The benchmark FTSE 100 was marginally higher at 7,418, giving up earlier gains as U.S. bond yields retreated.
RM Plc., a supplier of technology and resources to the education sector, rose about 1 percent after it has agreed to sell an additional portion of its Internet Protocol v4 addresses to Hilco Streambank, an intellectual property advisory firm, for $2.2 million in cash.
Imperial Brands jumped 3.5 percent. The maker of John Player Special cigarettes reaffirmed its forecast and announced a $1.3 bln share buyback.
FTSE 100 Little Changed As Construction PMI Sees Sharp Decline
2023-10-05 09:22:07
