1st September 2011
European stocks fell today (September 1st) following the publication of disappointing data for the eurozone's manufacturing sector.
The FTSE 100 declined by 0.21 per cent to 5,383.29 points in early afternoon trading after figures revealed that eurozone manufacturing activity shrunk for the first time in almost two years during August.
Compiled by Markit, the Eurozone Manufacturing Purchasing Managers Index (PMI) dropped from 50.4 in July to 49 last month, taking it below the mark that separates growth from contraction.
Other leading European indexes were also hurt by the data, with the CAC 40 in Paris losing 0.77 per cent to reach 3,231.87, AFP reports.
"European shares fell after a wave of weak PMI readings across Europe pointing to a slowdown in economic activity," Anita Paluch of ETX Capital told the news agency.
She added that the beginning of the month had "bestowed a rather disappointing picture upon investors".
The FTSE 100 was pegged back by a bout of profit-taking in the mining sector earlier today, as investors prepared for the publication of key US employment data on Friday.
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