Stocks fluctuate amid China data, US budget talks
Associated Press
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Updated 6:59 am, Friday, December 14, 2012
LONDON (AP) — World markets were cautious on Friday as concerns over ongoing U.S. budget talks offset the impact of survey showing China's manufacturing production rose to a 14-month high. European markets struggled after Standard & Poor's lowered its credit outlook on Britain, meaning there is a one in three chance the country could lose its top credit rating over the next year. Investors largely shrugged off agreements reached Thursday by European Union finance ministers: a compromise to create a single supervisor for banks and an agreement to give Greece desperately needed bailout funds. The improvement in Chinese manufacturing activity suggests global consumer spending may be recovery from a weak patch this year. Mainland Chinese shares posted sharp gains, with the Shanghai Composite Index surging 4.3 percent to 2,150.63 on the back of the manufacturing data. Reported by SeattlePI.com 33 minutes ago.
Associated Press
Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Updated 6:59 am, Friday, December 14, 2012
LONDON (AP) — World markets were cautious on Friday as concerns over ongoing U.S. budget talks offset the impact of survey showing China's manufacturing production rose to a 14-month high. European markets struggled after Standard & Poor's lowered its credit outlook on Britain, meaning there is a one in three chance the country could lose its top credit rating over the next year. Investors largely shrugged off agreements reached Thursday by European Union finance ministers: a compromise to create a single supervisor for banks and an agreement to give Greece desperately needed bailout funds. The improvement in Chinese manufacturing activity suggests global consumer spending may be recovery from a weak patch this year. Mainland Chinese shares posted sharp gains, with the Shanghai Composite Index surging 4.3 percent to 2,150.63 on the back of the manufacturing data. Reported by SeattlePI.com 33 minutes ago.