China Manufacturing PMI Slumps, Further Woe for Tesco
March 24, 2015 9:29 am
Most Asian share markets were set to end a volatile session with modest gains on Tuesday, after a measure of Chinese factory activity dented sentiment by unexpectedly dropping to an 11-month low. U.S. stocks edged lower on Monday on the heels of strong gains in the prior week, as investors weighed fluctuations in the Dollar and its impact on other markets, including crude prices. The Dow closed 11 points lower at 18,116, the S&P500 closed 3 points lower at 2,104.
The Dollar was down about 0.1% on the day against its Japanese counterpart at 119.57 Yen, well below both Friday’s session high of 121.20 and levels above 122 Yen touched earlier this month. The Euro stood at $1.0918, down about 0.3% from the previous session, but still well above a 12-year low of $1.0457 plumbed last week.
U.S. crude futures slumped about 1.4% to $46.80 a barrel after soaring 1.9% in the previous session. Brent shed about 0.6% to $55.59. Spot gold edged down about 0.1% after a four-day rally, to $1,187.80 an ounce.
Further woe for Britain’s biggest retailer as the challenge facing Tesco’s new leadership team will be underlined on Tuesday with the emergence of another legal claim from shareholders over the retailer’s £263m profit misstatement, Sky News reported late on Monday. Tesco stock is down 0.5% in early trade at 245p per share.
Most Asian share markets were set to end a volatile session with modest gains on Tuesday, after a measure of Chinese factory activity dented sentiment by unexpectedly dropping to an 11-month low. U.S. stocks edged lower on Monday on the heels of strong gains in the prior week, as investors weighed fluctuations in the Dollar and its impact on other markets, including crude prices. The Dow closed 11 points lower at 18,116, the S&P500 closed 3 points lower at 2,104.
The Dollar was down about 0.1% on the day against its Japanese counterpart at 119.57 Yen, well below both Friday’s session high of 121.20 and levels above 122 Yen touched earlier this month. The Euro stood at $1.0918, down about 0.3% from the previous session, but still well above a 12-year low of $1.0457 plumbed last week.
U.S. crude futures slumped about 1.4% to $46.80 a barrel after soaring 1.9% in the previous session. Brent shed about 0.6% to $55.59. Spot gold edged down about 0.1% after a four-day rally, to $1,187.80 an ounce.
Further woe for Britain’s biggest retailer as the challenge facing Tesco’s new leadership team will be underlined on Tuesday with the emergence of another legal claim from shareholders over the retailer’s £263m profit misstatement, Sky News reported late on Monday. Tesco stock is down 0.5% in early trade at 245p per share.
Related Posts: