Steel companies gain on strong China PMI data
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)
- Tweet this
- Share this
- Digg this
- China not warlike, says Xi, as border standoff dominates India trip
- Modi calls for early settlement of China border issue
- Former New Zealand captain Martin Crowe suffers cancer relapse
- UPDATE 2-Border standoff dominates China Xi's visit to India
- Mars mission enters last lap; crucial test on Sept. 24
A standoff between Indian and Chinese soldiers overshadowed a visit to New Delhi by China's President Xi Jinping on Thursday, with a $20 billion investment pledge eclipsed by robust comments from Prime Minister Narendra Modi about the dispute. Full Article | Slideshow