markets will be closed on Monday for the Labor Day holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan shrugged off early losses and was last up about 0.3 percent, moving back toward last Thursday’s six-and-a-half-year peak. Japan’s Nikkei stock average ended up 0.3 percent, taking back some ground lost in August, when it shed 1.3 percent. The gains came even after an official index of China’s manufacturing sector fell from a 27-month high in August to show slow growth, although it was still the second-highest reading this year.
French manufacturing shrinks at fastest rate in 15 months in Aug – PMI – Yahoo Finance
A link has been sent. Done July 4, 2014 11:55 AM 0 shares Content preferences Done Synnex (SNX) reported second quarter earnings of $1.52 per share, which is better than expected and $1.34-1.38 guidance; revenues rose 33.3% year/year to $3.45 billion which is better than expected. Technology Solutions: Revenue was $3.16 billion, up 24.2% YoY. Concentrix: Revenue was $293.5 million, up from $46.7 mln YoY due largely to the recently acquired IBM CRM business. The company issued guidance for the third quarter with EPS of $1.45-1.50, which is below estimate and revenues of $3.3-3.4 billion which is higher than expected.
Tech Stocks from Briefing.com – Yahoo Finance
The final HSBC/Markit PMI eased to 50.2 in August, close to the preliminary reading of 50.3 and only a shade above the 50-point mark demarcating an expansion in activity from a contraction. The declines in both PMIs prompted some analysts to re-state their support for more policy action to lift the fading growth momentum in the world’s second-biggest economy. “If we now start to see a serious challenge to growth, the pressure to do more will intensify,” said Louis Kuijs, an economist at RBS. He said the central bank could cut interest rates or reduce the amount of reserves that banks must hold as deposits to re-stoke the economy.
Stocks drift higher into long weekend – Yahoo Finance
Data compiler Markit said its final purchasing managers’ index for the sector fell to 46.9 in August from 47.8 in July. That was slightly higher than a preliminary reading of 46.5 but left the index well below the 50-point line dividing expansions in activity from contractions. “Sharply falling output led firms to cut back employment, purchasing and stock levels further in August,” said Markit economist Jack Kennedy. “This sort of across-the-board weakness has been a common theme in recent months and there remains very little to suggest any turnaround in fortunes will be imminent.” The weakness in the manufacturing sector adds to pressure on President Francois Hollande as he tries to revive an economy mired in stagnation and fight rampant unemployment.
Retreat in China’s PMIs heightens http://www.todayhotstocks.com/ calls for policy easing – Yahoo News
Metallurgic coal, basic metals, and Chinese Internet stocks have lagged. In company-specific news, Splunk rose 6 percent and Avago Technologies is up 5 percent after reporting better-than-expected earnings and revenues. Oil is up about 0.25 percent, and copper is higher by 0.5 percent. Gold and silver are fractionally lower.