UK stocks saw an upward trend on Thursday, primarily driven by a positive outlook on the economy reflected in the latest manufacturing data and house price index. Indicators suggest the economy is gradually coming out of the recession.
After seasonal adjustments, the manufacturing Purchase Managers Index (PMI) increased to a 20-month high of 50.3 from 47.5 in February, surpassing the preliminary estimate of 49.9.
The FTSE 100, a benchmark UK stock index, rose by 27 points, or 0.3 percent, to stand at 7,965, following a marginal gain the day before.
Mondi, a packaging group, saw its shares dip by 2.6 percent as DS Smith confirmed ongoing merger talks with the company. Shares of DS Smith also experienced a slight decrease.
Shares of media conglomerate Future surged by 15 percent following a report of revenue growth in the second quarter. The specialist media platform reiterated its guidance post announcement.
Vodafone's shares also increased by half a percent as the telecommunication conglomerate successfully tested a new internet technology designed to eliminate delays in gaming and video calling.
Entain, a sports betting and gaming group, also saw its shares go up by 2.5 percent. The company announced that its Chair, Barry Gibson, would be stepping down by the end of September, after serving for over four years.
