JPE | Josepauloecon: London open: Stocks decline on weak Chinese manufacturing data

1/04/2016

London open: Stocks decline on weak Chinese manufacturing data

Source: ADVFN Newsdesk <newsdesk@advfn.co.uk>

This text was copied from the source above mentioned. 

UK markets reopened on the back foot on Monday after the New Year break as data showed a further contraction in Chinese manufacturing sector activity.
The FTSE was down 1.83% to 6,128.80 at 0907 GMT following a slump in Asian stocks on a weakening yuan and a disappointing report from Caixin on the manufacturing sector.

The manufacturing purchasing managers' index fell to 48.2 in December from 48.6 the previous month, below expectations of 48.9 and the 50 level that separates contraction from expansion.

Markit's PMI on Eurozone manufacturing was revised upwards to 53.2 in December from the 'flash' estimate of 53.1. Analysts had expected an unchanged reading. November's print was revised down from 53.1 to 52.8.

Markit releases its PMI on UK manufacturing at 0930GMT, which is expected to show a reading of 52.8 in December, compared to 52.7 in November.

US manufacturing data from ISM and Markit are due in afternoon trade. The US will also see the release of construction spending data at 1500 GMT while Federal Reserve policymaker John Williams speaks after the closing bell.

Elsewhere, German inflation figures will be released at 1300 GMT, with analyst pencilling in an improvement in December.

Among stocks, miners were in the red on the back of weak Chinese manufacturing data. Anglo American, Glencore and BHP Billiton were among the top fallers.

Randgold Resources, however, was a top riser as gold prices jumped 1.05% on the Comex.

RSA Insurance declined amid claims for the damage caused by floods in the UK. Meanwhile, the company said it had completed the sale of its business in Italy to ITAS Mutua following the receipt of regulatory approval.

Diageo was sitting lower after it completed the sale of its major wine interests, including US-based Chateau and Estate Wines and the UK-based Percy Fox arm, to Treasury Wine Estates.

Oil prices remained under pressure, with Brent crude futures down 0.1% to $37.25 per barrel and West Texas Intermediate down 0.2% to $36.96 per barrel as of 09:07 GMT. 

Nenhum comentário:

Postar um comentário

Qual sua opinião sobre esta postagem? - What´s your opinion about this post?