FTSE 100 holds steady in cautious trade

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British FTSE
British FTSE

British stocks held steady on Friday even as a survey showed the country’s economic growth slowed last month on the back of staff shortages and supply chain issues.

The IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) fell to 55.0 in August, down from a preliminary “flash” reading of 55.5 and sharply lower from July’s 59.6.

The benchmark FTSE 100 was up 9 points at 7,172 after rising 0.2 per cent the previous day.

Mining giant BHP rose 1.4 per cent after tumbling 5.6 per cent the previous day on going ex-dividend. Antofagasta and Rio Tinto gained about 1 per cent each as metal prices advanced.

Discoverie Group shares jumped as much as 14 per cent. The electronic components manufacturer and supplier said that it has raised 55 million pounds (76.1 million dollars) via share placing.

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