Stocks seen higher as investors mull China PMIs

London stocks were set to rise at the open on Monday, taking their cue from a positive session in Asia as investors mull the latest Chinese PMI data.
The FTSE 100 was called to open 19 points higher at 6,426.

CMC Markets analyst David Madden said: “At the weekend, China announced its official manufacturing PMI and non-manufacturing PMI reports. The manufacturing reading for January was 51.3, slightly ahead of economists’ forecasts, but it cooled from the 51.9 posted in the previous update. The non-manufacturing update was 52.4, down from 55.7 in December. Overnight, the Caixin survey of Chinese manufacturing was 51.5, while economists were expecting 52.6. The December reading was 53.

Jarvis Investment Management Ltd offers a wide range of stockbroking and administration services and solutions. Their parent company, Jarvis Securities plc (LON:JIM) is listed on AIM.

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