FTSE 100 Moves Modestly Higher On Encouraging Services PMI Data

(RTTNews) - U.K.'s equity benchmark FTSE 100 climbed higher on Thursday as slightly subdued oil market, a drop in bond yields and data showing an improvement in the nation's services sector activity aided sentiment.

The FTSE 100 was up 33.55 points or 0.31% at 10,790.00 about a quarter past noon.

Vodafone Group gained more than 3.5%. Airtel Africa climbed 3.2%, while LSEG and Metlen Energy & Metals moved up 2.5% and 2.3%, respectively.

Experian, Weir, Entain, Endeavour Mining, Halma, AstraZenecal, Associated British Foods, Diploma, Lion Finance, Relx, Informa, BT Group, St. James's Place, Prudential and Barclays gained 1%-1.7%.

Shares of food packing company Hilton Food soared more than 15% after the group lifted its full-year adjusted profit guidance.

Admiral Group, Aviva, Centrica, Bunzl, IG Group Holdings, United Utilities, Kingfisher, Barratt Redrow, National Grid, Haleon, Severn Trent, Persimmon and SSE lost 1%-1.7%.

On the economic front, the S&P Global UK Composite PMI rose to 52.5 in August from 52.2 in the previous month, the same as the flash estimate and above the initial market expectations of 51.6.

The services sector PMI advanced to 52.5 in August from 52.1 in July, while the manufacturing sector slowed down with the PMI score coming in at 51.7 for August, compared to 51.9 a month earlier.