FTSE starts second half on front foot as manufacturing jumps

The FTSE 100 started the second half of the year positively after promising Asian numbers were followed up by a strong showing from the UK's own manufacturing sector.

The Markit/CIPS Manufacturing Purchasing Managers' Index (PMI) jumped to 52.5 from an upwardly revised 51.5 in May, data showed on Monday, beating analysts' forecasts for a reading of 51.5. The news followed a strong opening which saw the FTSE 100 rise 0.8% on news Japanese manufacturing numbers exceeded expectations. Chinese manufacturing also came out in line with predictions, calming the market. However, after a strong start the market pulled back marginally, with the index up 0.5% by 10:21am, at 6,248 points.