The blue-chip index was down 0.3% this morning, weighed down by mining stocks, as metals prices fell on a firmer dollar and disappointing China consumer prices data.

Make UK, a manufacturing trade body, reported signs of recovery in the UK manufacturing sector. Factories increased output significantly, outpacing growth in orders, with the greatest output-to-orders ratio since late 2019. Export orders saw a positive balance, outperforming domestic orders for the first time since the pandemic. Make UK has revised its 2023 manufacturing growth forecast from -0.5% to +0.8%, though it expects a slowdown in 2024 to just 0.1% due to higher borrowing costs.

Greencoat UK Wind has acquired a 49.9% stake in the Kype Muir Extension wind farm, located in South Lanarkshire, Scotland, from Banks Renewables.

Vistry Group, a housebuilder, rose 1.3% after launching a GBP55 million share buyback program as an alternative to an interim dividend. The program is expected to conclude by March 14, coinciding with the announcement of full-year results. Vistry will hold up to 250,000 of the repurchased shares in treasury and cancel the remainder.

Meanwhile, GSK announced that its drug Jemperli, combined with chemotherapy, has received marketing authorization from the European Commission for the treatment of a form of endometrial cancer.

Focus is turning to central banks, with the Bank of England, U.S. Federal Reserve and the European Central Bank all due to announce their monetary policy decisions later this week.

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