real-time news and commentary for investors
Monday, Sep 2
Eurozone manufacturing activity hits 26-month high
- Eurozone manufacturing PMI rises to a 26-month high of 51.4 in August (flash 51.3) from 50.3 in July.
- Upturn broad-based, with PMIs rising in all countries except France.
- Greece PMI of 48.7 a 44-month high.
- Manufacturing in Germany, the Netherlands, Austria, Spain and Italy fastest for at least two years
- "Companies reported the strongest improvement in business conditions for just over two years, with a pick up in new-orders growth suggesting the upturn will be sustained into September," says Markit.
- However, companies remain reluctant to take on staff, suggesting "that there’s a long way to go before the recovery feeds through to a meaningful job market improvement." (PR)
- Euro flat vs dollar. EU Stoxx 50 +1.5%.
- ETFs - Stocks: EZU, VGK, FEZ, EPV, IEV, ADRU, FEP, FDD, UPV, EPV, DFE, FEU, FEEU. Bonds: EU. Euro: FXE, ERO, ULE, URR, EUO, DRR, EUFX