Spreadex Market Update
Slowdown in manufacturing activity
European bourses have started the month mixed, trading relatively flat as once again the geopolitical issues in Ukraine begin to cap gains. The FTSE 100 is currently down 8 points whilst the DAX is trading flat at 9470.
Manufacturing PMI data released this morning shows a slowdown in manufacturing activity falling to a 14-month low of 52.5. Despite the fall, it has still managed to keep within expansion levels which are defined above 50.0.
Ahead of the US open, the futures are pointing towards a slightly weaker open from Fridays close indicating a loss of around 10 points. Investors will be looking towards Thursdays European Central Bank press conference on Thursday where further clarity on the monetary policies will be given and if any changes are to happen in the near term.
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