Economy

European Stocks Struggle for Direction as French Output Rebounds, UK Production Gains

European Stocks Struggle for Direction as French Output Rebounds, UK Production Gains”

Manufacturing output also advanced 0.7 percent over the month, exceeding economists' expectations for a 0.3 percent gain.

Despite the positive news on industrial production and trade, a separate release from the ONS suggested the construction sector had a torrid September, with output contracting 1.6 per cent.

Britain's industrial output grew by 1.1% in the three months through September, 0.1 percentage points faster than initially thought.

Oil prices, meanwhile, were barely changed with West Texas Intermediate crude oil futures, the main United States benchmark, were 0.03% higher at $57.19 per barrel while Brent crude, the global gauge Brent was up by 0.3% at $64.09 per barrel.

Manufacturing rose 0.7 per cent in September, the fifth consecutive increase and more double market forecasts.

In trade data, export volumes fell by 1.8% on the quarter, compared with a 1.9% quarterly rise in imports.

A similar pattern emerged in PMI surveys for the start of the current quarter, with manufacturing showing healthy growth in October and construction struggling to avoid falling back into contraction.

Figures on the United Kingdom industrial production, also published Friday, were slightly more upbeat.

Chris Williamson, chief business economist at IHS Markit, said official data was now confirming the United Kingdom was a multi-speed economy, with manufacturing enjoying strong growth and construction in the doldrums, entering a new technical recession.

The reports round off a quarter which saw economic growth pick up slightly to 0.4 per cent, a level which remains below its pre-Brexit referendum average as political uncertainty and inflation crimp consumer spending.

"It's encouraging to see sectors such as machinery and equipment recording strong growth in the third quarter, where output was up 3.0%, as this is a good indicator of rising business investment. So we remain optimistic that net trade will provide more support to growth in the quarters ahead".



Like this

Latest


10 November 2017
Storm signals lifted as 'Salome' moves away from Philippines
Estimated rainfall amount is from moderate to heavy within the 250 km diameter of the Tropical Depression. What's the weather like in your area? It is moving in a west northwest direction.

10 November 2017
Scott Kyle Parsons Acquires 2000 Shares of Alamos Gold Inc. (AGI) Stock
Zacks Investment Research raised shares of Alamos Gold from a "sell" rating to a "hold" rating in a report on Tuesday, August 8th. TheStreet downgraded Alamos Gold from a "hold" rating to a "sell" rating in a research report on Wednesday, August 31st.

10 November 2017
China's ByteDance buys Musical.ly teen app for Dollars 800 mln
Started by Zhang Yiming, it's on track to pull in about US$2.5 billion in revenue this year, largely from advertising. China's AI-powered content platform Bytedance Ltd said on Friday it would merge with lip-syncing app Musical.ly Inc.

10 November 2017
Schwartz Investment Counsel Inc. Boosts Stake in Fastenal Company
UBS AG upgraded Fastenal from an "outperform" rating to a "strong-buy" rating in a research note on Thursday, July 13th. Wilkins Investment Counsel Inc bought 21,100 shares as the company's stock declined 14.06% while stock markets rallied.

10 November 2017
Government offices close Friday for Veteran's Day
Sherrill American Legion Post 230 will host a Veterans Day ceremony Saturday at 11 a.m., November 11 in Memorial Park. This also includes the Woodward Public Library and the Plains Indians and Pioneers Museum.

10 November 2017
How Blues could look if they sign Arturo Vidal
The report also claims Bayern are unhappy with Vidal's performances and are unsure he can rediscover his best form. Vidal has been repeatedly linked with the Blues after he worked under Conte during his time at Juventus.

10 November 2017
Cisco Systems, Inc. (CSCO) Rating Reiterated by Needham & Company LLC
Ontario - Canada-based Fincl Bank Of Montreal Can has invested 0% in WGL Holdings Inc (NYSE:WGL). (NASDAQ:CSCO). Holderness Investments Co. boosted its stake in Cisco Systems by 12.1% during the first quarter. (NASDAQ:CSCO).

10 November 2017
Transdigm Group Incorporated (TDG) Releases FY18 Earnings Guidance
The firm owned 71,885 shares of the aerospace company's stock after acquiring an additional 470 shares during the period. It offers integrated services on a local, regional and global basis to owner, occupier, investor and developer clients.

10 November 2017
Top Companies in Market, Trends & Growth Factors and Details for
The report begins with a market overview and moves on to cover the growth prospects of the Digital Wrench market. The Digital Isolators report narrates the segments and sub-segments of the Digital Isolators market in detail.

10 November 2017
National Grid plc (NG) Stock Rating Reaffirmed by Deutsche Bank AG
Finally, First Trust Advisors LP boosted its position in National Grid Transco, PLC by 30.3% during the 2nd quarter. Wellington Management Group LLP boosted its position in National Grid Transco, PLC by 2.2% during the 1st quarter.



Recommended