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FTSE 100 of the London Stock Exchange shed close to half a percent amidst fears that the recent data releases from the U.S. could derail the Fed’s stated intentions to moderate the interest rate increases. The ISM PMI readings for non-manufacturing activity came in at 56.5 percent in November versus expectations of 53.3 and previous reading of 54.4.<\/p>\n
FTSE 100 oscillated between 7,567.64 and 7,533.11 versus the previous day’s closing level of 7,567.54. <\/p>\n
The benchmark index of the London Stock Exchange is currently trading at 7,542.39, down 0.33 percent on an overnight basis. <\/p>\n
In the 100-scrip index, only 31 are trading in the overnight green zone. <\/p>\n
Rolls Royce Holdings topped with an uptick of 2.8 percent. Life insurer Phoenix rose 2.5 percent following announcement of incremental new business<\/span> long-term cash generation target.<\/p>\n Packaging group Mondi topped the FTSE 100 fallers, with a 4.2 percent drop after Credit Suisse cut its rating from outperform to underperform and also revised its price target.<\/p>\n The GBP\/USD pair gained 0.31 percent to trade at 1.2226 amidst the US Dollar Index dropping 0.24 percent to 105.04. <\/p>\n Yields on U.K.’s ten-year bonds decreased 0.05 percent to 3.0945% from the previous close of 3.0960%.<\/p>\n Earlier, the S&P Global\/CIPS Construction PMI revealed a slowdown in construction activity in the U.K. with the November reading falling to a three-month low of 50.4, versus 53.2 in October. Retail sales meanwhile jumped 4.1 percent on a like-for-like basis in November, as compared to 1.2 percent in October, attributed to the winter-related purchases and the Black Friday boost. <\/p>\n<\/p>\n Market Analysis<\/p>\n<\/div>\n