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FTSE edges above 6,500 after data cheers investors

Ray Boulger

The FTSE 100 has ended the first day of the month ahead by 1.45 per cent after a raft of positive economic data bolstered investor sentiment.

Monday’s session came to a close with the blue-chip index up by 83.26 points at 6,506.19, led by Aberdeen Asset Management, Rio Tinto, Persimmon, Anglo American and easyJet.

At the start of the day, upbeat purchasing managers’ indices for China, Europe and the UK showed that manufacturing activity strengthened in each of the regions. In addition, economic momentum in the eurozone appears to be spreading to the weaker, southern countries in the currency bloc.

Vodafone, meanwhile, rose 3.37 per cent after said it is in “advanced” talks to sell its 45 per cent stake in American Verizon Wireless for $130bn (£84bn). Confirmation of the deal is believed to be imminent, once Verizon’s board has met.

Charles Stanley Direct investment director Douglas McNeill says: “It’s a good start to September with the market up about 1.5 per cent today – some consolation for a 2 per cent decline over the course of August. Year to date, the market is up 14 per cent including dividends.”

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