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TikTok reportedly relocating to London as Microsoft confirms acquisition plans; HSBC profits hammered by Covid-19 and China-US tensions; gold hits new record high
8.23am BST
IHS Markit, which compiles the survey, said:
Spain’s manufacturing sector returned to growth during July as businesses continued to reopen following lockdown and firms benefited from an associated upswing in demand. Orders, purchasing and production were all reported to be up, with demand higher in both domestic and international markets. However, less positive was further job losses as firms continue to operate well below capacity. Confidence about the future also remained subdued.
8.19am BST
The Spain manufacturing PMI is out: it is better than expected at 53.5 in July, up from 49 in June. Economists had expected a reading of 52. The 50 mark divides contraction from expansion.
Spain Manufacturing PMI (Jul) ||53.5 (Actual)52.0 (Forecast)49.0 (Previous) Continue reading...