The US reported stronger than expected ISM services data yesterday, which came in at 56.5 in November, vs expectations of 53.5. The FTSE 100 was down 0.1% this morning,
Meanwhile, growth in Britain's construction industry slowed in November, hampered by higher rates and borrowing costs, while the difficult economic environment limited new building works. The S&P Global PMI index for construction fell to 50.4, versus expectations of 52.0.
Among stocks, Ashtead Group gained 3.9% after it raised its interim dividend by 20%.
Defensive stocks and oil majors stocks were among the largest declines.
Things to read today:
SPACs Collapse as $11 Billion of Deals Are Called Off Within an Hour (Bloomberg)
Crypto group Circle ends $9bn deal to go public through Bob Diamond’s Spac (Financial Times)
Stocks Slide After Strong Data on Factory, Services Sector (WSJ)