Market information

Thursday, September 02, 2010

A published poll under purchasing managers showed that the U.S. industry has performed surprisingly strong in August. According to the Institute for Supply Management the index that measures economic activity increased from 55.5 in July to 56.3 in August, while a decrease to 52.8 was expected. The positive figure represents a boost for the U.S. economy and a counterweight to other setbacks including the housing market. The employment index, a different part of the figure, increased to its highest level since 1983.

Yesterday also China published industrial figures. After three months of decreases the purchasing manager index increased with two points in August to a level of 51.9. The index now exceeds the level 50, which reflects the turning point between contraction and growth. According to a Chinese economist, the figure confirms that Chinese growth doesn’t collapse but continues at a moderate pace. Also India, Russia, France and Germany published positive purchasing manager indexes.

The positive figures from America and China resulted yesterday in a lust for sale to investors. The AEX was up 2.86% and closed at 325.52 points, the biggest gain since May 27. The interest rates also increased yesterday in response to the figures, like the 10-year Euro swap which increased with 6 basis points and now stands at 2.43%.

The 6M Euribor decreased by 1 basis point to 1.13%. The 10-year swap increased 6 basis points to 2.43%.

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