Global stock markets responded positively today to Chinese economic data and ongoing US-China trade talks, with all major indexes rising. Britain’s FTSE 100 had risen by 49 points or 0.7 per cent shortly after 2pm, while the German benchmark Dax 30 index had risen 124 points or 1.1 per cent. The Eurostoxx 600 had risen by 0.6 per cent. The rises followed better-than-expected data today that showed that China’s manufacturing sector had returned to growth. The Caixin purchasing managers index (PMI) rose to 50.8 in March from 49.9 in February. A score of above 50 signals growth, and March’s score was the first improvement in China’s manufacturing sector in four months. The country’s economy has struggled amid a trade war with the US and a global slowdown. The Eurozone countries’ stock markets rose despite poor data from IHS Markit this morning showing that the zone’s manufacturing sector shrank in March, with Germany leading the decline. UK data also released today showed the manufacturing sector grew strongly in March, outperforming the Eurozone. Fiona Cincotta, senior market analyst at City Index, said: “With China being the key market for several European indices a stronger manufacturing number means a return to higher exports.”… Read full this story
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