London's FTSE 100 experienced a modest rise of 0.3% to reach 9,260 on Tuesday. This movement occurred as investors processed weaker-than-anticipated PMI figures, weighing the potential implications for the Bank of England's policy direction. The data indicated that UK private sector growth had decelerated to its slowest rate since May, with the services sector expanding at a reduced pace and manufacturing continuing its decline. Despite these developments, price pressures eased in September.
On the corporate scene, Kingfisher's shares surged nearly 18% following an upward revision of its full-year outlook, driven by stronger interim profits. Smiths Group also enjoyed a more than 3% rise after posting annual operating profits that exceeded expectations. Meanwhile, Raspberry Pi saw a 6% drop, attributed to a considerable decrease in first-half earnings stemming from reduced royalty income. Additionally, GSK's stock dipped by 0.4% after reports surfaced that the Trump administration had requested pharmaceutical companies to increase the production of leucovorin, a medication used to treat certain autism patients.
