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Wednesday, July 24

24th Jul - EU Open: Bad PMI from China

Previously on MoreLiver’s:

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News roundup – Between The Hedges
The 6am Cut London – alphaville / FT
Emerging Markets Headlines – beyondbrics / FT
Asia Morning MoneyBeat: Sleepy Market Nudges Dow to New High – WSJ
Europe Morning MoneyBeat: Small Gains Expected, PMIs Key – WSJ

3 Numbers To Watch: German & US PMI, UK CBI industry trend ordersTradingFloor
Flash PMI estimates for Germany’s services and manufacturing sectors are scheduled today, followed by reports on the UK CBI Industrial Trends Orders Index and the first estimate of the US Manufacturing PMI for July.

Market Preview: PMIs across Europe and US in the spotlightTradingFloor
European markets are likely to open firmer Wednesday. With today's data revealing a more-than-expected contraction in China’s manufacturing activity, the manufacturing PMIs across Europe and the US due later today will be eyed for further direction.

Danske DailyDanske Bank (pdf)
Euro area PMIs are expected to improve for a third consecutive month in July... ECB will release its quarterly bank lending survey...Chinese HSBC Flash manufacturing PMIs released overnight showed another decrease down to 47.7 in July from 48.2 in June.

Market comment – China disappoints againNordea
Bond yields rise – equities see modest pressure * More worrying data from China – stimulus measures now closer? * Spanish GDP contraction continues to moderate * Modestly hopeful news from France * Euro-zone PMIs and ECB’s lending survey important * 5-year auction and new home sales in store from the US

Kohti uusia elvytystoimia? * Odotukset Kiinasta loivat nousupaineita korkoihin

AamukatsausTapiola (pdf)
Outokumpu laskee loppuvuoden tulosnäkymiään ja Konecranesin tulos odotuksia heikompi kesäkuun tulosvaroituksen jälkeenkin. Markkinan suunta: Kiinan alustava ostopäällikköindeksi osoittaa teollisuuden supistumisen kiihtyneen. Tänään julkaistaan alustavat mielenkiintoiset alustavat ostopäällikköindeksit myös muualta. Euroalueen kuluttajien luottamus hieman odotuksia parempi.
Osakefutuurit nollassa, indikoiden tasaista avausta OMX HEX:iin.


HSBC Flash China Manufacturing PMIMarkit (pdf)

PMI disappoints but order-inventory balance points to stabilization – Danske Bank (pdf)

China July Flash HSBC PMI falls to 11-month low – Reuters
China Manufacturing Weakens Further as Slowdown Deepens – BB
China PMI Plunges To 11-Month Low, Employment Weakest In Over 4 Years – ZH
Flash PMIs, another China data disappointment – alphaville / FT
More bad news on China's economy – Sober Look
China Manufacturing PMI Declines at Quickest Pace Since Last August – Mish’s