London stock market climbs, but pound slides, as new data shows Europe’s manufacturing sector recovering * Latest: Germany drives eurozone recovery * London stock market hits new 2016 high! * Pound hits seven-week low * Experts: Theresa May’s Brexit plan will hurt the pound * Conservative conference Live 9.11am BST NEWSFLASH: THE EUROZONE’S FACTORY SECTOR PICKED UP PACE IN SEPTEMBER, AS THE BREXIT SHOCK FADED AWAY. A new survey from Markit, the data provider, shows that manufacturing activity jumped last month - mainly driven by Germany. “Production gains are being driven by welcome signs of improving demand from both within the region and from wider export markets. ”For a region beleaguered by still-high overall unemployment, the fact that the upturn is generating more jobs is especially good news. The latest rise in factory payroll numbers was one of the best seen over the past four years. German manufacturers reported their second-best month for two-and-a-half years, with strong performances also seen in the Netherlands and Austria. “In contrast, growth remains far weaker than earlier in the year in Spain, Italy and Ireland, while manufacturing in France continues to decline. Greece has meanwhile also slipped back into contraction. Policymakers will nevertheless at least be pleased to see survey indices coming off their recent lows in Spain, Italy and Ireland.” 8.53am BST SHARES ARE RALLYING IN LONDON THIS MORNING, AS TRADERS START THE FINAL QUARTER OF 2016. The blue-chip FTSE 100 has gained 57 points in early trading to 6956. Bill Gross' Janus Capital to merge with Henderson, creating a $320bn giant https://t.co/BWy3g3hf3F pic.twitter.com/BZ6XTIx2QQ Continue reading...
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