3 May 2016
European indices mixed ahead of UK PMI
Following a tepid bounce on Monday, the European equity markets resumed their near-term downtrend to open mostly lower on Tuesday.
In early trade, Germany's DAX 30 fell 1.2% to 10,000 level while French CAC opened at 4,435, down 0.1%. Meanwhile, UK's FTSE 100 opened 0.4% higher at 6,270, resuming trading activity after a holiday on Monday in observance of May Day.
Mixed Asian markets
Earlier on Tuesday, Asian stock markets were also seen mixed with Chinese market gained confidence after President Xi Jinping’s verbal support for market and Australian stocks soaring on unexpected rate cut by RBA. From other Asian indices, Korea’s Kospi was up 0.3% and Hong-Kong’s HangSeng Index fell over 1.0%. The Japanese markets were closed in observance of a three-day public holiday and would resume trading on Friday.
UK manufacturing PMI eyed
UK's FTSE 100 index is seen trading higher ahead of the manufacturing PMI data for the month of April, scheduled for release in a short-while from now. Consensus estimates are pointing to a slightly higher reading of 51.3 in April as compared to 51.0 recorded in March.
With the Japanese Yen continuing with its down-slide, dropping to fresh 18-month lows, any optimism in the markets might continue to be short-lived.
In early trade, Germany's DAX 30 fell 1.2% to 10,000 level while French CAC opened at 4,435, down 0.1%. Meanwhile, UK's FTSE 100 opened 0.4% higher at 6,270, resuming trading activity after a holiday on Monday in observance of May Day.
Mixed Asian markets
Earlier on Tuesday, Asian stock markets were also seen mixed with Chinese market gained confidence after President Xi Jinping’s verbal support for market and Australian stocks soaring on unexpected rate cut by RBA. From other Asian indices, Korea’s Kospi was up 0.3% and Hong-Kong’s HangSeng Index fell over 1.0%. The Japanese markets were closed in observance of a three-day public holiday and would resume trading on Friday.
UK manufacturing PMI eyed
UK's FTSE 100 index is seen trading higher ahead of the manufacturing PMI data for the month of April, scheduled for release in a short-while from now. Consensus estimates are pointing to a slightly higher reading of 51.3 in April as compared to 51.0 recorded in March.
With the Japanese Yen continuing with its down-slide, dropping to fresh 18-month lows, any optimism in the markets might continue to be short-lived.