FTSE 100 Gains 0.1% Despite Weak PMI

FTSE 100 edged up 0.1% while UK composite PMI fell to 48.5, its lowest in 13 months, below growth threshold.
Sterling slipped 0.2% to $1.3404 and European indices fell, with Germany’s DAX down 0.3% and France’s CAC 40 down 0.4%.
Smiths Group cut 2026 revenue after £10 m loss, while AJ Bell announced a share buyback and 12% first‑half revenue growth.
Iran’s nuclear stance and US‑Iran diplomatic talks added uncertainty, with President Trump signaling willingness to wait on negotiations.