FTSE 100 up 0.06% (Il Sole 24 Ore Radiocor) - London, 22 Aug - UK shares ended flat as data showed inflationary pressure in the all-important services sector of the economy was cooling.

The flash PMI report for August showed "solid" growth in the UK private sector, lifted by strong new orders and faster hiring as inflationary pressures ease.

The preliminary reading of the UK manufacturing PMI for August rose to 52.5, from 52.1 in July, higher than the 52.2 consensus forecast. In the larger services sector, the PMI came in at 53.3, up from 52.5 and above the 52.8 consensus.

The pound meanwhile firmed against the US dollar rising momentarily above the 1.31 level, its highest level since July last year.

On the stocks front Morgan Stanley said UK equities were among "stand out" investments at the moment together with AI stocks.

JD Sports was an outperformer with shares ending up almost 10% after an improved sales update.

The FTSE 100 closed up 0.06% at 8,288.

AAA-Sje

(RADIOCOR) 22-08-24 18:09:13 (0499) 5 NNNN