CAPITALSTARS MCX COMMODITY COPPER NEWS UPDATE : :24 SEPTEMBER 2019
Base Metals Preview: Copper Stays under Stress
COMEX Copper futures tumbled amid tepid global
equities and weak economic cues. The red metal tested around it's two and half
week low and currently trades at $2.61 per pound, down 0.11% on the day. MCX
Copper futures closed flat Rs 443 per kg. European stocks saw heavy selling on a weak economic outlook. Sentiment turned further weak after British tour
operator Thomas Cook announced it had collapsed as the firm was unable to
secure a rescue package from its lenders.
On the economic front, the data out of Europe was
very depressing. Euro-area private sector flash composite output index fell to
50.4 in September from 51.9 in August, survey data from IHS Market showed
Monday. A score above 50 indicates expansion in the sector. The reading
signaled the weakest growth across manufacturing and services since June 2013.
The Purchasing Managers Index (PMI) for services fell to 52.0 from 53.5 in
August. The manufacturing PMI declined to 45.6 from 47.0 in August, moving into
further negative territory.
Germany private sector output fell for the first
time since April 2013, the rate of decline hitting the steepest since October
2012. Germany's flash composite PMI declined to 49.1 from 51.7 in August. The
services PMI came in at a 9-month low of 52.5 versus 54.8 a month ago. The
factory PMI plunged to a 123-month low of 41.4 compared to 43.5 in August.
CLICK HERE FOR getting DETAILS & JOIN OUR BEST ADVISORY -
- Visit our Link: https://bit.ly/2u2GUhKVisit My Website: https://bit.ly/1h8KZUMCAPITALSTARS CALL US: 9977499927Equity Tips, Intraday Stock Tips, FreeTrading Tips, Sebi Registered advisory
Capitalstars Financial Research Private Limited is a research house and an investment advisory group.
No comments:
Post a Comment