02/06/14 Market Movements

Market news
The FTS100 closed up 0.3% to 6,864.1.51 which is 0.2% away from the 14 year high reached on 14th May.

There has been positive news about UKs manufacturing sector which is reportedly having its strongest growth period in 22 years.  This is a stark contrast to the Eurozone which experienced a 6-month low in May.

Mining sector saw growth as a whole, spurred by renewed hopes for the Chinese economy after it was proved their purchasing power had increased.  Rio Tinto gained some ground by rising 2%, after falling last week. The surge is attributed to the sale of Clermont mine to Glencore.

Market fallers include food retailer Tesco, which dropped 1% as the company reported its worst UK sales in more than 10 years, as discounters gained market share.