Brexit angst drags UK construction growth down to 10-month low – business live

Rolling coverage of the latest economic and financial news, including worrying results from Sony and the latest UK construction PMI figuresLatest: Brexit anxiety is hurting UK constructionPMI drops to 50.6, from 52.8, close to contractionEmployment growth weakest since July 2016Earlier:Sony cuts sales outlook on weakening smartphone demandPS4 sales drop, pulling profits down 1.28pm GMT The UK stock market is just managing to hold onto its early gains, as the weaker pound give exporters a fillip.Most European markets are in the red, though, following the drop in eurozone investor confidence.A minor decline for the pound, one that followed a 10 month low UK construction PMI (which itself comes after last Friday’s troubling manufacturing equivalent), allowed the FTSE to hit a fresh 2 month high. Sterling dipped 0.1% against the dollar and the euro, a slip that translated to a 0.3%, 7040-grazing increase for the UK index.The Eurozone, which saw an unexpected drop in Sentix investor confidence, wasn’t looking too well. The DAX lost 0.3%, forcing the German index back under 11150, while the CAC was down half a percent, a move that dragged it below 5000. 1.07pm GMT Investor confidence in the eurozone at the lowest level in four years.Sentix Index pic.twitter.com/XqDUfgNlqV Continue reading…
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