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News Link • Economy - International

GLOBAL MARKETS: European Stocks Surrender Gains; Weak Economic Data

• wsj.com, By Ishaq Siddiqi & Andrea Tryphonides
 

LONDON (Dow Jones)--European stocks markets surrendered early gains Monday and the euro was lower against the dollar after investors were disappointed having dug deeper into a manufacturing report out of China and data from the euro zone.

At 1053 GMT, the Stoxx 600 index was flat at 263.03, off its session high of 264.80. Regionally, London's FTSE 100 index also traded flat at 5766.34, as did Frankfurt's DAX at 6956.59. Paris's CAC-40 fell 0.4% to 3410.39, off its high of 3445.05.

The official China purchasing managers' index was 53.1 in March, up from 51 in February. The March reading in the official report was the fourth consecutive monthly increase but it is in stark contrast to HSBC's China PMI print of 48.3, released over a week ago. HSBC'S reading has been below 50 for five months.

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