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Sep 1, 2016

European Markets Closing Report, by CNBC on September 1, 2016: Europe Shares Reverse Direction to Close Lower as U.S. Stocks fall
Holly Ellyatt
European stocks closed lower on Thursday as investors reacted to a rebound in oil prices and fresh data from China.

The pan-European STOXX 600 index traded higher earlier in the day, but ended roughly flat.
The U.K.'s FTSE 100 ended provisionally down 0.5 percent, with the German DAX down 0.6 percent . The French CAC closed roughly flat.

Pernod Ricard shares up


FTSE FTSE 6745.51
-36.00 -0.53% 760020959
DAX DAX 10528.20
-64.49 -0.61% 87198175
CAC CAC 4433.87
-4.35 -0.10% 90415517
IBEX 35 IBEX 35 Idx 8763.80
47.00 0.54% 236453473

In terms of individual stocks, Pernod Ricard shares ended 2.2 percent higher after it highlighted improving sales in China.
Shares of Roche closed nearly 1 percent lower, in spite of the Swiss company announcing that its cancer treatment, Tecentriq, had produced positive results in a Phase III study.
U.S. stocks fell after a key indicator of U.S. manufacturing sector disappointed. The ISM manufacturing index for August came in at 49.4, which was the weakest reading since January and indicated sector contraction.

Which insurance firm will outperform its peers into year end?

Total Votes:
Not a Scientific Survey. Results may not total 100% due to rounding.
Hays recovered in afternoon trading after being down 3.4 percent, after the recruiter said hiring in Britain weakened significantly shortly after the June 23 vote to leave the European Union. In the afternoon, shares were higher some 0.7 percent.

Fresh China data

European markets bucked the gloomy trend set in Asia, where markets traded mostly lower on Thursday, shrugging off a better-than-expected reading on China's manufacturing sector.
The government survey of large enterprises in the manufacturing sector saw an uptick in factory activity last month. The official manufacturing purchasing managers index (PMI) for August rose to 50.4, beating a Reuters estimate of 49.9 and the July print of 49.9. Levels above 50 indicate expansion, while levels below indicate contraction.

US jobs eyed

Sterling jumped 1 percent against the euro and a similar amount against the dollar to trade at $1.3249 after data showed that the U.K. manufacturing industry saw a strong post-Brexit vote rebound in August. The London-based FTSE index was trading 0.13 percent higher.
Meanwhile, investors are also gearing up for the all-important U.S. jobs data due on Friday. The non-farm payrolls report will be eagerly watched by the U.S. Federal Reserve and could determine whether the central bank increases interest rates in September.
"If we are right about August, and the hourly earnings number undershoots consensus, as we expect—thanks to a long-standing and persistent calendar quirk— the chances of a September rate hike will recede," Ian Shepherdson, chief economist at Pantheon Macroeconomics, said in a note Wednesday.