Markets today: China sells, Britain builds and the US employ May 7, 2021 European markets saw another day of gains yesterday, though for most of the day it was a bit of a struggle, with the turnaround only happening in the last hour of trading, as US markets shrugged off their early day malaise to turn higher, with the Dow once again posting another record high. The likes [...]
UK PMIs: Service sector grew at fastest rate since 2013 in April May 6, 2021 The UK service sector grew at the fastest rate since 2013 in April as the economic recovery from the Covid-19 pandemic continues apace. The UK Composite Purchasing Managers’ Index (PMI) for services rose to 61 in April, up from 56.3 in March. Any score above 50 indicates growth. It beat flash estimates of a reading [...]
UK PMIs: Reopening boom brings surge of activity for British businesses April 23, 2021 A flurry of new orders swept through British businesses in April as the country eased Covid restrictions, according to a survey released today which pointed towards a rapid economic rebound. The preliminary ‘‘flash’’ reading of the UK Composite Purchasing Managers’ Index (PMI) rose to 60.0 in April from 56.4 in March. This signalled its highest [...]
Sterling steadies after strongest quarter against the euro since 2015 April 1, 2021 The pound was little changed against the dollar on Thursday and a touch lower against the euro, but traders remained optimistic about its longer-term prospects. Sterling had its strongest quarter against the euro since 2015 in the first three months of the year, gaining around 4.8 per cent. UK manufacturing activity grew sharply in March [...]
UK PMIs: Manufacturing activity soars to decade high in March April 1, 2021 UK manufacturing activity grew sharply in March as business optimism hit a seven-year high and vaccine rollouts buoyed the industry, according to new data. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index rose to 58.9 per cent last month, marking the highest reading in just over a decade. The index leaped from last month’s 55.1 [...]
Concerns over prolonged restrictions as looming third Covid wave overshadows upbeat PMI data March 24, 2021 Mounting concerns about a third wave of Covid-19 cases across the UK and Europe are adding to expectations that economies may reopen later than initially predicted. The shift in market sentiment is weighing on stocks as they are extending losses with covid concerns even overshadowing today’s upbeat PMI data. “Fears over the impact of tighter [...]
UK PMIs: Construction activity bounces back as paused projects get green light March 4, 2021 UK construction activity bounced back in February as businesses gave the go ahead to projects that had been forced to be suspended due to the pandemic. The IHS Markit/Cips purchasing managers (PMI) index for construction scored 53.2 in February, with any score above the 50-mark indicating growth. That’s markedly ahead of analyst expectations of a score of [...]
UK PMIs: Manufacturing activity creeps higher amid Covid restrictions March 1, 2021 UK manufacturing activity climbed back to its highest levels since the latest lockdown began in February, new figures have shown. The IHS Markit/CIPS Purchasing Managers’ Index rose to 55.1 last month, up from 54.1 in January. Any reading above 50 designates growth. However, a combination of supply chain disruption as a result of the Uk’s [...]
UK PMIs: UK firms fare less badly than expected February 19, 2021 UK firms had a more positive February than anticipated so far, with firms eyeing growth prospects later in the year as the vaccine roll-out continues. The IHS Markit/CIPS purchasing managers index (PMI) jumped to 49.8 in February from 41.2 in January, a far swifter improvement than what was originally feared. The index indicated some stabilisation [...]
Before the Bell: All eyes are on UK retail sales and PMI numbers today February 19, 2021 Sentiment in stocks this week has been slowly eroded as the bullish mood that circulated on Monday has since turned a little bearish. At the start of the week, the outlook was upbeat on account of optimism connected to the vaccine rollout. The UK confirmed that it was on track with its vaccination distribution scheme [...]