The German DAX reversed early gains to trade 0.5 per cent lower after Purchasing Managers Index surveys showed service sector activity unexpectedly came to a near standstill in August, although factory activity rebounded further. — Reuters pic
Paris-listed shares fell 0.3 per cent after a worse showing from the French survey, while euro zone blue chips were down 0.4 per cent. The STOXX 600 recorded a 0.9 per cent loss for the week, with growth-linked cyclical sectors such as banks, oil & gas firms and automakers hit hard as several European countries saw a resurgence in coronavirus cases that raised fears of more restrictions on business activity.
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Asian stocks set to rise after Wall Street tech-driven rally | Malay MailNEW YORK, Aug 21 — Asian equities were poised to rise today after a tech-driven rally on Wall Street in which the Nasdaq hit a record high despite downbeat data that affirmed the Fed’s dour outlook on US economic recovery. Markets had opened lower after data showed an unexpected rise of more...
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