Global stocks rise amid upbeat manufacturing data
MANILA, Philippines (AP) — Global stocks mostly rose Thursday, buoyed by positive manufacturing data from China and Britain while investors await U.S. employment data later this week.
An official monthly survey of Chinese factory managers, a barometer for manufacturing activity, came in at a better-than-expected 50.4 in August, on a 1-100 scale where 50 marks the threshold between contraction and expansion.
The results reflect improved expectations among Chinese factory managers and upticks in production and orders.
ANALYST'S TAKE: "While there will be a focus on tomorrow's U.S. jobs report, being by far the standout risk event this week, there is plenty of data being released throughout the day which should ensure it's a lively session," Craig Erlam, a senior market analyst at OANDA said in a commentary.
A Japanese Ministry of Finance survey showed spending on factories and equipment in the April-June quarter was weaker than expected.