FTSE 100 holds steady as investors turn cautious ahead of US-China meeting
The FTSE 100 is holding near 10,730 as investors take profits in selected stocks and await the US-China meeting. UK PMI data suggests manufacturing is recovering faster than services.
Chief Market Analyst
The FTSE 100 is currently trading at around 10,730 points. Investors in the UK are using some of the renewed uncertainty surrounding the situation in the Middle East as an opportunity to take profits in selected stocks.
Meanwhile, the latest UK purchasing managers’ indices painted a different picture of the economic backdrop compared with Germany. The manufacturing sector appears to be recovering more strongly than services.
Confidence in a further stabilisation of the UK economy therefore remains intact. Trading has been relatively subdued today, reflecting the broader wait-and-see approach among investors ahead of the upcoming meeting between the US and China.
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