FTSE 100 opens steady as mixed UK economic data paint a divergent picture
The FTSE 100 opened near 10,513 as stronger UK trade and GDP data were offset by weaker industrial production and construction output. Earnings updates and elevated energy prices are helping support the index despite the mixed macro backdrop.
written by
Andreas Lipkow
Chief Market Analyst
16 Jul 2026, 08:20
FTSE 100 opens broadly unchanged
The FTSE 100 opened Thursday's session at 10,513, broadly unchanged from the previous day's close. Investors were closely watching the release of the latest UK trade, GDP and output data, which delivered a mixed picture.
The trade deficit narrowed to GBP18.7 billion, outperforming market expectations for a GBP23.1 billion deficit and providing a modest boost to sentiment. UK GDP also expanded by 0.1% month on month in May, slightly exceeding consensus forecasts for no monthly growth.
Construction weakness offsets better services data
The production data, however, painted a more uneven picture. Industrial production contracted by 0.5%, falling short of market expectations, while both manufacturing output and the services sector delivered upside surprises.
Construction remained the weakest area of the economy, with construction output declining by 0.8%, significantly worse than the expected 0.3% contraction. The data confirm that weakness in the construction sector persisted throughout May.
Earnings and energy stocks support the index
Today's trading is also being shaped by the latest corporate earnings releases and persistently elevated energy prices. Energy stocks remain firmly in investors' focus, with oil majors continuing to benefit from higher crude prices.
In addition, several individual FTSE constituents are attracting buying interest after reporting better-than-expected earnings, helping to provide support for the broader market despite the mixed macroeconomic backdrop.
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