Market news on May 26: S&P 500 passed 3000
Stocks, oil and GBP gain on risk-on sentiment
British construction PMI reaches 1-year dip in August
In August, British construction sector activity suddenly went down, reaching a one-year minimum and also affecting optimism over the UK economy, as industry data revealed on Monday.
Market research firm IHS Markit along with the Chartered Institute of Purchasing & Supply reported that the previous month their British construction purchasing managers' index went down to a seasonally adjusted 51.1 from July’s outcome of 51.9.
Financial experts had expected the index to soar to 52.0 in August.
By the way, on the index, a result above 50.0 traditionally stands for expansion, while an outcome below 50.0 suggests contraction.
IHS Markit stressed that a sturdy ascend in house building was compensated by a marked dip in commercial work and also added that new business edged down for the second month running.
Reacting to the report, the currency pair GBP/USD hit 1.2942 versus 1.2945 ahead of the publication.
Similar
What moves the market on May 25?
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
What moves the market on May 22?
Here you’ll find fresh news that drive the market today.
Latest news
Market news on May 26: S&P 500 passed 3000
Stocks, oil and GBP gain on risk-on sentiment
What moves the market on May 25?
Investors weigh reopening economies against the growing US-China tension. Which impulse will be stronger?
What moves the market on May 22?
Here you’ll find fresh news that drive the market today.
Deposit with your local payment systems
