{"id":12446,"date":"2021-08-02T05:42:50","date_gmt":"2021-08-02T05:42:50","guid":{"rendered":"https:\/\/www.pantheregroup.com\/2021\/08\/02\/european-shares-set-for-positive-open-3\/"},"modified":"2021-08-02T05:42:50","modified_gmt":"2021-08-02T05:42:50","slug":"european-shares-set-for-positive-open-3","status":"publish","type":"post","link":"https:\/\/www.pantheregroup.com\/2021\/08\/02\/european-shares-set-for-positive-open-3\/","title":{"rendered":"European Shares Set For Positive Open"},"content":{"rendered":"
<\/div>

\n<\/p>\n

\n

European stocks are seen opening higher on Monday despite China reporting a slowdown in manufacturing activity. <\/p>\n

Data released Saturday by the National Bureau of Statistics showed China’s official purchasing managers’ index fell to 50.4 in July from 50.9 in June, adding to concerns about a slowdown in the world’s second-largest economy<\/span>. It was the slowest figure since the index slumped to 35.7 in February 2020.<\/p>\n

China’s Caixin\/Markit Manufacturing Purchasing Managers’ Index (PMI) fell to 50.3 last month from 51.3 in June, marking the lowest level in 15 months.<\/p>\n

Elsewhere, manufacturing activity rose in export powerhouses Japan and South Korea, though firms suffered from supply chain disruptions and raw material shortages that pushed up costs.<\/p>\n

Asian markets<\/span> rose broadly as Chinese authorities moved to soothe fears over a crackdown on tech companies and a top decision-making body of the ruling Communist Party said China will maintain stable macro policies in the second half of the year to ensure growth. <\/p>\n

Oil prices fell about 1 percent in Asian trade as signs of slowing growth in China, the second-largest oil consumer globally, clouded the fuel demand outlook. <\/p>\n

Investors also looked ahead to the Organization of the Petroleum Exporting Countries and allies (OPEC+) increasing its oil output.<\/p>\n

The U.S. dollar held near a one-month low, heading into a busy week that includes monthly jobs data and reports on manufacturing and service sector activity, factory orders and the U.S. trade deficit.<\/p>\n

Closer home, factory purchasing managers’ survey results from euro area and the U.K. are due later in the session, headlining a light day for the European economic news.<\/p>\n

U.S. stocks fell on Friday, with concerns over China’s clampdown on technology<\/span> businesses, disappointing results from Amazon and renewed worries about a rise of cases of the Delta variant coronavirus weighing on markets.<\/p>\n

The Dow dropped 0.4 percent, the tech-heavy Nasdaq Composite shed 0.7 percent and the S&P 500 eased half a percent.<\/p>\n

European stocks also ended lower on Friday as concerns about China’s policy risks overshadowed data showing a fairly strong rebound in euro area economic growth in the second quarter.<\/p>\n

The pan European Stoxx 600 declined half a percent. The German DAX slid 0.6 percent, France’s CAC 40 index slipped 0.3 percent and the U.K.’s FTSE 100 gave up 0.7 percent. <\/p>\n<\/p>\n

Business News<\/p>\n<\/div>\n