NEWS - ECONOMICS / MARKETS
Categories: Economics / Markets
The FTSE 100 opened higher, up 0.25% or 12.95 points to 5,238.17, supported by encouraging economic data coming out of China this morning.
China's official purchasing managers' index rose to 51.7 in August from a 17-month low of 51.2 in July, causing an improvement in commodity prices and overall sentiment.
Silver miner Fresnillo is the biggest riser, up 3.85% to £11.32, followed by TUI Travel, which advanced 3.33% to 208p and InterContinental Hotels Group, rising 1.78% to 999.5p.
Early morning casualties include ARM Holdings, down 1.58% to 361p and British Airways, dropping 1.09% to 208.7p.
On Wall Street, US stocks slumped to their worst August in nine years, as investors retreated on fears for the US economy.
The Dow Jones Industrial Average ended the month down 4.3%, the worst since May, and first down August for the index in five years, the Wall Street Journal reports.
Intraday, the index was unchanged closing up 0.05% or 4.99 points to 10,014.72.
In Japan, the Nikkei edged up 1.17% or 102.96 points to 8927.02 getting a marginal boost from a rise in China's purchasing managers index.
Categories: Economics / Markets
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