London stocks rise ahead of services activity data | Malay Mail

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LONDON, Sept 3 — London’s FTSE 100 edged higher today, helped by consumer discretionary and mining shares, while investors awaited a reading on August services activity data due later in the day. The blue-chip index rose 0.2. Global miner BHP Group added 1.4 per cent, rebounding from a 5.6 per...

LONDON, Sept 3 — London’s FTSE 100 edged higher today, helped by consumer discretionary and mining shares, while investors awaited a reading on August services activity data due later in the day.

The domestic focused mid-cap FTSE 250 index edged 0.1 per cent higher, lifted by 10.1 per cent jump in Discoverie Group’s shares after the electronic components manufacturer and supplier upsized its equity raise offering. “The NFP is always good for some juicy volatility intra-session, but this one will assume potentially greater importance than usual as the headline result will go a long way towards solidifying financial markets’ timing of the Fed taper,” said Jeffrey Halley, senior market analyst at OANDA.

Domestically, the IHS Markit/CIPS services Purchasing Managers’ Index is expected to fall to 55.5 last month from 59.6 in July amid supply-chain bottlenecks that also stunted British manufacturers’ recovery from the Covid-19 pandemic in August.

 

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