London stocks were higher at midday on Friday after fresh data showed stronger-than-expected growth across the UK services and manufacturing sectors in February.
The flash UK composite purchasing managers’ index rose to a 22-month high of 53.9 in February from 53.7 in January, beating forecasts of 53.4, according to preliminary figures from S&P Global.
The flash manufacturing index climbed to an 18-month high of 52.0 from 51.8, ahead of expectations for an unchanged reading, while the services index eased slightly to 53.9 from 54.0 but still topped consensus of 53.6.
The FTSE 100 was up 0.6% at midday, with the FTSE 250 also ahead by 0.6%.
Smiths Group rose 1.1% after agreeing to sell its Smiths Detection division to CVC Capital Partners in a deal valuing the business at £2.0 billion. The enterprise value represents 16.3 times headline operating profit of £122 million and 12.5 times headline EBITDA of £160 million for the year ended July 31.
On the FTSE 250, Chemring was among the fallers, down 3.3%, despite saying its financial 2026 outlook remains in line with expectations. First-quarter order intake dropped to £122 million from £393 million a year earlier, although its order book edged up to £1.36 billion from £1.35 billion. The company cited operational disruption in countermeasures production, which it said has now largely been resolved.
On AIM, Pulsar Helium slid 13% after raising approximately £7.4 million through a placing of 9.2 million shares at 80p each. The proceeds will fund development of its Topaz project in Minnesota, progress the Falcon project in Michigan and provide working capital.
Small-cap Tullow Oil fell 3.6% after estimating 2025 revenue of $847 million, down from $1.54 billion the previous year, with production averaging 40,400 barrels of oil equivalent per day. The company reported free cash flow of $100 million and expects between $150 million and $180 million this year.
In the US on Thursday, the Dow Jones fell 0.5%, the S&P 500 dropped 0.3% and the Nasdaq declined 0.3%.