UK PMI data mixed but better on balance- FTSE 100 yet to react much on the news

The UK July flash PMI readings on the manufacturing, services and composite sectors was, just like those in France, Germany and the Eurozone expected to show a modest improvement. As we now know, the data from Europe did not match those expectations. The UK data has just now been released and it is rather mixed, but certainly much better than anything seen from the other countries. Earlier this morning the FTSE 100 did open effectively lower today (forget the book entry that states it was unchanged) and has come close to the 8,105 level yet again. The cash index low was set at 8,112 and since then the index rebounded somewhat ahead of this UK data. So, as you can see again this 8,105 level provided significant support, but the more times it holds the greater any break below it might prove to be. That point has been made here several times already. This PMI data has helped the Pound to rise, but not yet helped the FTSE 100 significantly higher, so we wait and see, if the higher UK interest rates this data has delivered will impact the index to the downside again.