UK’s benchmark FTSE 100 rose on Wednesday after data showed the dominant service sector in March reported the strongest new business expansion in a year, although worries about a slowdown in the U.S. economy tempered the mood.
The blue-chip FTSE 100 (.FTSE) rose 0.3%, outperforming the broader European markets as defensive sectors such as pharmaceuticals and consumer staples rose.
Adding to signs of recovery in the economy, the final reading of the S&P Global/CIPS UK Services Purchasing Managers’ Index (PMI) of 52.9 was below February’s 53.5 but above the 50 mark denoting growth for a second month in a row.
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