London stock markets ended the week on a high, with the FTSE 250 hitting a new record and the FTSE 100 soaring back to pre-pandemic levels.
The FTSE 100 finished up 53.54 points at 7,129.71 - rising above 7,100 for the first time since February 2020, just before the pandemic struck. The FTSE 250 closed 283.92 points higher at a new record high of 22,775.28.
In company news, British Airways owner IAG posted a pre-tax loss of €1.22billion (£1.1billion) in the second quarter as passenger numbers remained low due to international travel restrictions.
Meanwhile, activist investor Edward Bramson sold his entire 6 per cent stake in Barclays. His investment vehicle, Sherborne Investors, said it had identified a new company to invest in instead that offered a better return to shareholders.
Britain’s services sector rebounded in April, with growth hitting a seven-and-a-half-year high thanks to a surge of “pent-up demand” as lockdown restrictions eased further, according to figures.
The closely watched IHS Markit/CIPS Purchasing Managers’ Index (PMI) recorded a better-than-expected reading of 61 for April, up from 56.3 in March and the fastest pace of growth since October 2013.
A reading above 50 signals growth.
The reopening of shops and outdoor dining on April 12 helped firms across the sector enjoy soaring demand, while the road map for lifting lockdown further also boosted forward bookings and new projects.
May 17 is the date when indoor dining is set to be allowed, with a raft of hospitality also reopening, such as cinemas and theatres.
2021-05-06 14:35:44 GMT2021-05-06 22:35:44(Beijing Time) Xinhua English
LONDON, May 6 (Xinhua) Britain s service sector output witnessed the fastest rise in April since October 2013 as business and consumer spending rebounded significantly amid the easing of lockdown restriction, according to a joint report released here Thursday.
The purchasing managers index (PMI) Business Activity Index for the service sector surged to 61.0 in April, up from 56.3 in March, signalling the sharpest rate of output expansion for seven and a half years, revealed a joint survey by IHS Markit, a London-based global information provider, and the Chartered Institute of Procurement & Supply (CIPS), which serves the procurement and supply profession.
UK Service Sector Grows Most Since 2013
LONDON (dpa-AFX) - The UK service sector grew at the fastest pace since October 2013, driven by sharp increases in business and consumer spending amid easing of restrictions related to the COVID-19 pandemic, final data from IHS Markit showed on Thursday.
The Chartered Institute of Procurement & Supply services business activity index advanced to 61.0 in April from 56.3 in March. The score was well above the flash estimate of 60.1.
Service providers noted that the roadmap for easing COVID-19 restrictions across the UK had been a key factor helping to boost activity. New orders increased the most since December 2013.
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