Rolling coverage of the latest economic and financial news
- Latest: FTSE 100 has surged by 190 points today
- Biggest one-day jump in over three years
- UK PMIs show economy struggling in December
- PMI falls to 48.5, showing sharpest contraction in 41 months
- Introduction: US-China trade deal lifts markets
- End of political paralysis in UK
Upbeat economic data from America is also pushing shares higher.
US business activity grew at its fastest pace in five months, IHS Markit reported.
Flash US Composite PMI at 52.2 in December (Nov – 52.0) as business activity, order books and jobs growth all accelerated to the strongest in 5 months. However, 4th quarter PMI results signal annualised GDP growth of just 1.5%. More here: https://t.co/8NSMJBvMuw pic.twitter.com/ZjQO8gOmKK
The National Association of Home Builders’ Housing Market Index rose by 5 points to 76 — the highest reading since June 1999 — exceeding economists’ forecasts for a reading of 70, according to a Reuters survey.
US homebuilder confidence climbs to 20-year high https://t.co/JguiUdqyjL
The Dow Jones industrial average is also joining the party, hitting a record high a moment ago.
The Dow is up 195 points, or 0.7%, at 28,330. Tech stocks are among the risers, after Donald Trump cancelled plans for new tariffs on Chinese-manufacturer products on Sunday. Telecoms equipment maker Cisco is up 2.8%, and Apple up 1.65%.