(Alliance News) – Stocks in London were called flat on Tuesday with a mixed session in Asia unable to inspire, as investors await an inflation reading due from the eurozone.
IG futures indicate the FTSE 100 index is to open up just 1.34 points at 7,601.40 on Tuesday. The blue-chip index closed up 14.60 points, or 0.2%, at 7,600.06 on Monday.
In Tokyo on Tuesday, the Nikkei 225 was down 0.2%. The Shanghai Composite was up 0.9%, while the Hang Seng in Hong Kong was 0.8% higher. The S&P/ASX 200 in Sydney shed 0.7%.
China’s manufacturing sector improved in May, data showed Tuesday, as some factories gradually resumed work after the easing of strict Covid lockdowns.
The purchasing managers’ index – a key gauge of manufacturing activity – edged up to 49.6 points from April’s 47.4, which was the worst reading since early 2020. However, the reading remained stuck below the 50-point mark separating growth from contraction.
Oanda’s Jeffrey Halley said: “A less-worse-than-expected set of data has prompted a modest rally in China equities today, holding the promise of an…
