AGL 40.00 No Change ▼ 0.00 (0%)
AIRLINK 129.00 Decreased By ▼ -0.53 (-0.41%)
BOP 6.76 Increased By ▲ 0.08 (1.2%)
CNERGY 4.50 Decreased By ▼ -0.13 (-2.81%)
DCL 8.70 Decreased By ▼ -0.24 (-2.68%)
DFML 41.00 Decreased By ▼ -0.69 (-1.66%)
DGKC 81.30 Decreased By ▼ -2.47 (-2.95%)
FCCL 32.68 Decreased By ▼ -0.09 (-0.27%)
FFBL 74.25 Decreased By ▼ -1.22 (-1.62%)
FFL 11.75 Increased By ▲ 0.28 (2.44%)
HUBC 110.03 Decreased By ▼ -0.52 (-0.47%)
HUMNL 13.80 Decreased By ▼ -0.76 (-5.22%)
KEL 5.29 Decreased By ▼ -0.10 (-1.86%)
KOSM 7.63 Decreased By ▼ -0.77 (-9.17%)
MLCF 38.35 Decreased By ▼ -1.44 (-3.62%)
NBP 63.70 Increased By ▲ 3.41 (5.66%)
OGDC 194.88 Decreased By ▼ -4.78 (-2.39%)
PAEL 25.75 Decreased By ▼ -0.90 (-3.38%)
PIBTL 7.37 Decreased By ▼ -0.29 (-3.79%)
PPL 155.74 Decreased By ▼ -2.18 (-1.38%)
PRL 25.70 Decreased By ▼ -1.03 (-3.85%)
PTC 17.56 Decreased By ▼ -0.90 (-4.88%)
SEARL 78.71 Decreased By ▼ -3.73 (-4.52%)
TELE 7.88 Decreased By ▼ -0.43 (-5.17%)
TOMCL 33.61 Decreased By ▼ -0.90 (-2.61%)
TPLP 8.41 Decreased By ▼ -0.65 (-7.17%)
TREET 16.26 Decreased By ▼ -1.21 (-6.93%)
TRG 58.60 Decreased By ▼ -2.72 (-4.44%)
UNITY 27.51 Increased By ▲ 0.08 (0.29%)
WTL 1.41 Increased By ▲ 0.03 (2.17%)
BR100 10,450 Increased By 43.4 (0.42%)
BR30 31,209 Decreased By -504.2 (-1.59%)
KSE100 97,798 Increased By 469.8 (0.48%)
KSE30 30,481 Increased By 288.3 (0.95%)

LONDON: Major stock markets mostly fell Monday as more weak Chinese economic data offset optimism over an expected US interest-rate cut.

Investor sentiment was jolted by worries over China’s economy after a report showed activity in the country’s manufacturing sector contracted for a fourth consecutive month in August and more than expected.

The weekend data “rang alarm bells”, noted Joshua Mahony, chief market analyst at trading group Scope Markets.

China’s manufacturing “sector clearly remains in a troublesome position as the country attempts to navigate its way out of the recent real estate fuelled slowdown”, he added.

Inflation data helps European stocks shake off Nvidia results

In August, the Purchasing Managers’ Index (PMI) – a key barometer of industrial output – stood at 49.1 points, the National Bureau of Statistics announced.

This represents a stronger contraction than in July (49.4 points) for the index, which is based in part on company order books.

A figure above 50 indicates an expansion in manufacturing activity, while below that is a contraction.

The update came as leaders face calls to unveil fresh stimulus measures, particularly for the troubled property industry, with observers warning the government’s 5.0 percent GDP growth target could be missed this year.

Following the Chinese figures, oil prices fell slightly and the yuan dropped against the dollar on Monday.

The data added to concerns over weak Chinese demand, including for the luxury sector, with British fashion brand Burberry heading the losers board in London. Its shares were down 2.7 percent nearing midday, while in Paris Gucci-owner Kering shed 2.3 percent.

However, stock in British online real estate firm Rightmove soared 22 percent after Australian peer REA Group, majority-owned by Rupert Murdoch’s News Corp empire, said Monday it is mulling a multi-billion-pound takeover.

Elsewhere, focus remained fixed on by how much the Federal Reserve would cut US interest rates in September.

Figures on Friday showed the Fed’s favoured gauge of inflation – personal consumption expenditures index – fell in line with forecasts in July, setting the bank up to ease monetary policy this month.

Focus is now on the release of the closely watched non-farm payrolls report, which will provide the latest snapshot of the world’s top economy.

While a cut has been priced in, the data could determine how big it will be, with analysts saying another big miss to the downside could prompt officials to slash rates by 50 basis points, rather than the expected 25.

Key figures around 1045 GMT

London - FTSE 100: DOWN 0.2 percent at 8,363.40 points

Paris - CAC 40: DOWN 0.3 percent at 7,609.18

Frankfurt - DAX: DOWN 0.2 percent at 18,874,53

Tokyo - Nikkei 225: UP 0.1 percent at 38,700.87 (close)

Hong Kong - Hang Seng Index: DOWN 1.7 percent at 17,691.97 (close)

Shanghai - Composite: DOWN 1.1 percent at 2,811.03 (close)

New York - Dow: UP 0.6 percent at 41,563.08 (close)

Euro/dollar: UP at $1.1062 from $1.1050 on Friday

Pound/dollar: UP at $1.3132 from $1.3130

Dollar/yen: UP at 146.75 yen from 146.20 yen

Euro/pound: UP at 84.26 pence from 84.15 pence

Brent North Sea Crude: DOWN 0.1 percent at $76.86 per barrel

West Texas Intermediate: DOWN 0.2 percent at $73.40 per barrel

Comments

200 characters