Europe Markets Higher After Asia Flat


Europe markets opened up slightly up after most Asia markets closed higher by below 1%.

The FTSE rose .63% to 5,747. Miner Rio Tinto (NYSE: RTP) was up over 2% as was its major peer BHP Billion (NYSE: BHP)

The DAX was up .45% to 7,001. VW was down more than 1%. Bayer was up over 1% as were Deutsche Post AG, Deutsche Boerse AG, and Adidas AG.

Most financial data released about Europe today was good

The markets did showed a particularly muted reaction to poor China PMI numbers reported today, perhaps because the information was expected.

MarketWatch reports that

HSBC's China manufacturing Purchasing Mangers' Index (PMI), released Monday, offering up its bleakest reading since March 2009, following on the heels of an official PMI Saturday which also showed conditions worsening.

HSBC's PMI fell to 47.6 in August on a 100-point scale, down from July's 49.3, marking the 10th straight month-on-month deterioration.


The final result also marked a downward revision from an initial 47.8 reading, and was down sharply from July's 49.3 level.

Douglas A. McIntyre

Filed under: 24/7 Wall St. Wire, China, Index Tagged: BHP, featured, RTP