FTSE 100 Up 0.1% Despite Weak PMI

FTSE 100 rose 0.1% on Thursday, while Germany's DAX fell 0.3% and France's CAC 40 dropped 0.4%.
UK composite PMI slipped to 48.5 in May, its lowest in 13 months and first sub‑50 reading since April 2025.
Companies reported mixed results: Smiths Group cut 2026 revenue guidance after £10 m loss; AJ Bell posted 12% revenue rise and announced a buyback.
Sterling fell 0.2% to $1.3404 as Iran's nuclear stance heightened geopolitical risk, prompting US‑Iran diplomatic talks.