Eurozone manufacturing activity hits 26-month high

|By:, SA News Editor

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