On February 1, the markets in China, Taiwan and Vietnam remained closed due to the Lunar New Year holiday. European stock indexes strengthened after the publication of strong data on business activity of the eurozone countries. At the forefront of growth stocks automakers and industrialists. In addition, today China has published strong production data. Shares of mining companies rose after the publication of the index of business activity in the manufacturing sector in China. The PMI was 51.3, slightly falling from 51.4 in December, but still higher than analysts’ forecast of 51.2. Values above 50 indicate growth. China is a major buyer of industrial and precious metals. Shares of BHP Billiton PLC rose 1.7%, Rio Tinto PLC added 1%, Antofagasta PLC positively 1%, and Anglo American PLC rose 1.1%. Reports on incomes were better than expected by the auto maker Volvo, Swiss bank Julius Baer and German engineering firm Siemens. Worse than expected, earnings reports were released by Electrolux and Trelleborg. The growth of markets is limited, as the currency confrontation arose after the charges of the new administration of the USA, Germany, Japan and China of artificially devaluing their currency. Trump’s chief trading advisor said that Germany uses the depreciation of the euro to exploit its trading partners. Before that, Trump announced that Japan and China are also devaluing their currencies. “Any other country lives off devaluation,” Trump said at a meeting with pharmaceutical company executives. “They are playing in the devaluation market, and we are sitting like a bunch of dummies.” The leaders of Japan and Germany have already made a denial of the charges and said they do not intend to discuss the exchange rate with the US administration. Merkel said that “we can not change the situation regarding monetary policy, and Germany can not influence the euro.” Today, investors will closely follow the FOMC statement, which is expected tonight, as a result of a two-day meeting. The index of house prices in the UK, Nationwide, rose by 0.2% in January, compared to the previous month, with a growth forecast of 0.3%. The index of business activity in the manufacturing sector in Spain, in January 55.6, with the forecast of 55.0. Business PMI of Switzerland from SVME, in January, 54.6, with the forecast of 55.8. The index of business activity in the manufacturing sector in Italy, in January, 53.0, with the forecast of 53.2. The index of business activity in the manufacturing sector in France, in January, 53.6, with the forecast of 53.4. The index of business activity in the manufacturing sector in Germany, in January, 56.4, with the forecast of 56.5. The index of business activity in the manufacturing sector of the eurozone, in January 55.2, with the forecast of 55.1. The index of business activity in the UK manufacturing sector is 55.9 in January, as analysts had expected.
FTSE 100 7,167.81 68.66 0.97%. DAX 11,641.09 105.78 0.92%. CAC 40 4,796.66 47.76 1.01%. FTSE MIB 18.730.92 140.19 0.75%. IBEX 35 9.402.00 86.80 0.93%. Stoxx 600 363.34 3.22 0.89%.
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