Stocks fall after weak ISM data The markets are moving lower after the ISM non-manufacturing index came in weaker than expected for January. Jeff Rosenberg, BlackRock chief market strategist for fixed income, discusses central bank policy and the markets.
GLOBAL ECONOMY-Private businesses start 2016 on weak footing *Euro zone final Jan composite PMI 53.6. *China services growth partially offsets factory weakness. LONDON, Feb 3- The private sector began 2016 on a slightly weak note around the world, and with scant signs of inflation picking up, pressure will remain on central banks to keep or even ease their already ultra-loose monetary policies, surveys showed on Wednesday.
| By: Jonathan Cable
Eurozone economy 'losing steam' amid market turmoil Financial information company Markit said its purchasing managers' index— a broad gauge of activity across both the manufacturing and services sectors— fell to a four-month low of 53.6 points in January from 54.3 the previous month. According to Markit, that means the region has started off the year growing at a modest 0.4 percent quarterly tick.
Source: The Associated Press
METALS-Copper climbs on improving China data, short-covering *China mortgage incentives to shore up commodities demand. MELBOURNE, Feb 3- London copper climbed on Wednesday, edging back towards a four-week high struck in the previous session, buoyed by positive news out of top metals user China and as traders continued to shut out short positions ahead of an upcoming holiday. "The relaxation on mortgage down payment for...
| By: Melanie Burton
GLOBAL MARKETS-Asian stocks tumble, safe assets shine as oil retreats *Nikkei down 3.2 pct, Hong Kong 2.7 pct. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 2.1 percentled by a 2.7 percent fall in Hong Kong shares. The selloff is likely to extend into the European session, with spread-betters expecting Germany's DAX and France's CAC 40 lose as much as 1.1 percent each and Britain's FTSE 0.9 percent.
| By: Hideyuki Sano
GLOBAL MARKETS-Asian shares fall, safe assets shine as oil retreats TOKYO, Feb 3- Asian shares tumbled on Wednesday as oil prices dropped for a third day, prompting investors to seek shelter in safe-haven assets and lifting bonds and gold to multi-month highs. The MSCI's broadest index of Asia-Pacific shares outside Japan fell 2.1 percentled by a 3.0 percent fall in Hong Kong shares. Demand is slowing in many emerging markets and...
| By: Hideyuki Sano