"China’s manufacturing expanded in July at the fastest pace in more than two years, signaling a pickup in economic growth is strengthening amid government support policies. The Purchasing Managers’ Index (CPMINDX) was at 51.7, the National Bureau of Statistics and China Federation of Logistics and Purchasing said today in Beijing, exceeding the median 51.4 estimate in a Bloomberg News survey and up from 51.0 in June. A separate PMI from HSBC Holdings Plc and Markit Economics rose to an 18-month high of 51.7. Readings above 50 indicate expansion."
now read this
U.K. stocks slid the most in more than three weeks, led by commodity producers, as a private report showed that Chinese manufacturing expanded at a slower-than-expected pace last month.
both from Bloomberg today.
so what was it good news or bad news. lol so stupid.
FMG Price at posting:
$4.68 Sentiment: Buy Disclosure: Held
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