Steel companies gain on strong China PMI data

Mon Sep 23, 2013 10:03am IST

A labourer works at a Tata steel iron godown in Chandigarh November 9, 2012. REUTERS/Ajay Verma/Files

A labourer works at a Tata steel iron godown in Chandigarh November 9, 2012.

Credit: Reuters/Ajay Verma/Files

Related Topics

Stocks

   

Reuters Market Eye - Shares in steel companies gain after a closely-watched measure of Chinese manufacturing hit its highest in six months and showed a promising pick-up in export orders, another sign of stabilisation in the world's second-biggest economy.

The flash HSBC Purchasing Managers' Index (PMI) for China climbed to 51.2 in September, from August's 50.1, with 10 out of 11 sub-indices up in the month. Dealers had looked for a reading of around 50.9.

Steel Authority of India Ltd (SAIL.NS) gains 2.3 percent, Tata Steel Ltd (TISC.NS) rises 1 percent and Jindal Steel and Power Ltd (JNSP.NS) is up 0.3 percent.

(Reporting by Abhishek Vishnoi)

FILED UNDER:

Monetary Policy Committee

Reuters Showcase

Microfinance

Microfinance

Funding the unfunded: India helps small business borrow to grow  Full Article 

Insurance Sector

Insurance Sector

UK healthcare firm Bupa sees strong growth in India  Full Article 

Sensex Rises

Sensex Rises

Sensex edges up; consumer and healthcare stocks rise  Full Article 

Market Eye

Market Eye

FTSE adds nine Indian firms as large-caps in Asia-Pacific ex-Japan index   Full Article 

Indian Ocean Diplomacy

Indian Ocean Diplomacy

PM Modi to ramp up help for Indian Ocean nations to counter China influence  Full Article 

ECB Bond-Buying

ECB Bond-Buying

ECB raises growth forecasts, to start printing money next week  Full Article 

China Economy

China Economy

China signals "new normal" with lower annual growth target  Full Article 

Pharma Sector

Pharma Sector

Panel recommends waiving late-stage trials for some drugs  Full Article 

E-commerce

E-commerce

China backs e-commerce expansion in win for Alibaba, JD.com  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage