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FTSE on rise as data shows increase in activity for fifth month running for UK service businesses

FTSE on rise as data shows increase in activity for fifth month running for UK service businesses FTSE 100 begins on front foot with news that the services Purchasing Managers’ Index (PMI) for July come in above forecast, but still marks a slowdown in the recovery. The seasonally-adjusted IHS Markit/ CIPS UK Services PMI came in at 59.6 for July, which was higher than anticipated, but a drop from 62.4 in June.  The US$40bn takeover of UK microchip designer Arm may be blocked by the government for national security reasons, according to reports. It is being acquired by US tech group Nvidia.

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