Stocks flat after Chinese PMI data

Stocks flat after Chinese PMI data

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European stocks are trading close to the flatline this morning with investors digesting data out of China. Chinese Manufacturing PMI came in at 50.1 for August, the weakest growth since February last year. Various factors are likely responsible for the slow-down but mainly coronavirus delta variant outbreaks. Down from 50.4 last month and below expectations.

Generally sentiment has been bolstered after Fed chair Jerome Powell’s speech at Jackson Hole on Friday which did not provide any evidence that the Fed will be imminently tightening its monetary policy.

 

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