Major European indices starts September with gains indicating the market not anticipating the record-high inflation. STOXX 600 opened with a rise of 0.7% setting off towards the level in mid-August.
Asian stocks this morning started off negative as the market reacted to sluggish manufacturing activity data and resurgence of delta cases in the region. However, infected cases have significantly dropped over the past few days and reopening stock gaining momentum in the Asian markets.
The EU manufacturing PMI for August stood at 61.4 vs the street consensus of 61.5. PMI dropped by 1.4 points from the previous month. Laster today EU unemployment rate is to be announced which would set the course of the market for the rest of the day.