UK GDP for the third quarter has been revised up by 0.1% to 0.6%, the Office for National Statistics (ONS) announced this morning.
The revision was unexpected and has boosted market sentiment, renewing hopes of a Santa rally. The FTSE 100 was up 1.03% or 55 points to 5,445 at 10.50am. Elsewhere in Europe the French Cac has gained 1.18% to 3,066 while the German Dax is up 1.04% to 5,852. Meanwhile, the pound remained higher against the dollar following the announcement, up 0.2% to trade at $1.5612. Gilts yields rose from hitting record lows in yesterday's session. Yields on the ten year benchmark gilt were 2.06%, up from 2.02%. The ONS attributed the revision to stronger services and construction output g...
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