FTSE lifted by Chinese data

A six-month high for China’s services sector has offered a boost to the FTSE today.

China’s non-manufacturing PMI for September came in at 55.4, evidence of further growth in the sector after surpassing the August reading of 53.9, and a half-year high.

Dealers welcomed the news after recent mixed economic data from China. The services sector in the UK dipped slightly on the month but still showed growth, while the eurozone unexpectedly ticked up. Traders have been looking for an excuse to go long, after with the FTSE 100 having lost ground over the previous four trading sessions.

Budget airline easyJet is down 0.7% despite saying it expects full-year pre-tax profit to be at least 48% higher compared with the previous year.

Aviva has completed the sale of its US business to a Bermuda-based company for $2.6 billion, $0.8 billion more than it stated in December, and the stock is up 2%.

We expect the Dow Jones to open 33 points lower at 15,100, after the Chicago Mercantile Exchange increased its margin requirement on US index futures, prompting some traders to close out long positions.

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