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The UK economy grew by 0.3% in the three months to November, the weakest rate in six months, dragged lower by a fall in car production Jaguar Land Rover and Ford to cut thousands of jobs FTSE 100 breaks through 7,000 for first time in 2019 Flybe rescued by Virgin and Stobart in cut-price deal 9.39am GMT The UK economy grew by 0.3% in the three months to November, down from 0.4% in the three months to October and the weakest in six months. Growth was driven by the services sector, while manufacturing output fell. Growth in the UK economy continued to slow in the three months to November 2018 after performing more strongly through the middle of the year. Accountancy and housebuilding again grew but a number of other areas were sluggish. Manufacturing saw a steep decline, with car production and the often-erratic pharmaceutical industry both performing poorly. 9.31am GMT Neil Wilson, analyst at Markets.com, says the FTSE’s break through the 7,000 mark is significant: FTSE 100 is testing 7,000 again, showing a firm bounce from the key test at 6,700 which it has survived. The area around 7,000 is the 38% retracement of the rally from the 2016 lows to the 2018 highs. It’s also an area where we saw a lot of choppiness last November and is likely to form a key resistance point. The indicators appear quite bullish with the index breaking free from downtrend resistance and through its 50-day moving average on the close yesterday, which has proved a very sticky area of resistance throughout the recent downtrend. Continue reading...