July 2, 2012 / 5:36 AM / in 5 years

Europe Factors to Watch-Rally set to stall after China data

PARIS, July 2 (Reuters) - European stocks were seen opening mixed on Monday,
as last week's sharp rally triggered by new bold measures to fight the euro zone
debt crisis loses steam, while tepid Chinese manufacturing data revives worries
over the outlook for the global economy.
    Financial spreadbetters expected Britain's FTSE 100 to open around
17 points higher, or up as much as 0.3 percent, Germany's DAX to open 6
to 7 points higher, or up as much as 0.1 percent, and France's CAC-40 to
open 3 to 6 points lower, or down as much as 0.2 percent.
    Over the weekend, data showed China's purchasing managers' index (PMI)
dropped to 50.2 in June from May's 50.4, singalling that growth in manufacturing
sector activity was close to stalling. 
    European shares closed at a seven-week high on Friday with the euro zone's
blue chip Euro STOXX 50 index surging 5 percent, posting its biggest
jump in seven months after fresh measures taken by European leaders to tackle
the region's debt crisis sparked a relief rally.
    
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 MARKET SNAPSHOT AT 0531 GMT                            
                                         LAST  PCT CHG  NET CHG
 S&P 500                             1,362.16   2.49 %    33.12
 NIKKEI                              9,014.98   0.09 %      8.2
 MSCI ASIA EX-JP                       480.50   0.28 %     1.34
 EUR/USD                               1.2623   -0.4 %  -0.0051
 USD/JPY                                79.62  -0.34 %  -0.2700
 10-YR US TSY YLD                       1.638       --    -0.01
 10-YR BUND YLD                         1.582       --    -0.02
 SPOT GOLD                          $1,591.99  -0.31 %   -$5.00
 US CRUDE                              $83.78  -1.39 %    -1.18
 
    GLOBAL MARKETS-Asian shares rise on euro zone bank relief 
    Nikkei pares gains, investors await details of EU move    
    US STOCKS-Wall St ends weak quarter with a bang           
    FOREX-Euro takes breather after EU deal rally             
    London copper dips on China factory activity              
    TREASURIES-Yields stabilise after EU deal jump            
    PRECIOUS-Gold edges down, pauses after EU deal rally      
    Brent dips towards $96 after weak China data

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