(Alliance News) – London’s FTSE 100 traded higher on Tuesday following the long weekend, as investors react to US data, and look ahead to manufacturing sector readings from Europe later.
US inflation pressure eased ever-so-slightly in February to 2.8% on-year from 2.9% in January, according to the Federal Reserve’s preferred indicator, the core personal consumption expenditures index. The data, released on Friday, was in line with consensus cited by FXStreet.
The core data excludes food and energy. The annual headline PCE index, which does not, picked up 2.5% in February, accelerating slightly from 2.4% in January. The February outcome was in line with consensus.
On Monday, two sets of US purchasing managers’ index data showed the US manufacturing sector to be in growth territory.
The S&P Global US manufacturing PMI slipped to 51.9 points in March from 52.2 in February. The ISM PMI for manufacturing reading was 50.3 points for March,…
