Newspaper article The Journal (Newcastle, England)

Positive Manufacturing Data Boosts FTSE

Newspaper article The Journal (Newcastle, England)

Positive Manufacturing Data Boosts FTSE

Article excerpt

Byline: John Hill

THE FTSE 100 Index was buoyed by some positive manufacturing data on Tuesday, pushing it up to its highest level in two months.

Better-than-expected data emerged from UK factories, as output declined by less than the market feared in December. Meanwhile the US, China, India and Australia welcomed some encouraging figures, pushing the FTSE up by 127.8 points to 5699.9. The rise on Tuesday was more than 2%.

Investors began 2012 in an apparently-optimistic mood, following news of a less-than-spectacular FTSE performance in 2011. The index dropped below 4800 in August and early October, and ended 2011 5.5% lower than it was at the start of the year. The pound was up against the US dollar at 1.56 to end Tuesday, and down against the euro at 1.19. UK PMI construction data is expected to emerge today, with PMI services figures scheduled for Thursday.

The day's trading turned out to be a good one for some mining companies. …

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