One of the most surprising aspects about Argentina’s default on its debt this week was the lack of market impact on other emerging economies.» Read More
WARSAW, Aug 1- Poland's manufacturing sector, burdened by one of Europe's highest interest rates and strong trade links with Russia, shrank for the first time in 13 months in July, while factory activity roared ahead in the Czech Republic and Hungary.
BANGALORE/ SYDNEY, Aug 1- Manufacturing activity in China and most of Asia gathered pace in July as firms responded to burgeoning new orders by raising output, hinting at a revival in global trade, although euro zone factories barely managed to chug along. The HSBC/ Markit measure also rose to 51.7, an 18- month peak.
*Gold steadies after falling 1 pct on Thursday. LONDON, Aug 1- Gold firmed on Friday, edging further above the previous day's six-week low as the dollar steadied off a 10- month peak, but moves were muted ahead of key U.S. payrolls data which could prompt a further wave of selling.
*Iliad lines up deal financing with BNP, HSBC- sources. *Iliad bid $15 bln for 56.6 percent of T-Mobile US at $33/ share. PARIS, Aug 1- French telecoms company Iliad has lined up financing for its $15 billion bid for 56.6 percent of T-Mobile US from BNP Paribas and HSBC, three people familiar with the matter said on Friday.
*Dubai World proposes to make 1st big repayment early, delay 2nd. DUBAI, Aug 1- Economic recovery in Dubai is pushing both creditors and debtors to weigh new strategies in the $25 billion restructuring of state-owned Dubai World, one of the Middle East's largest ever debt deals.
SYDNEY, Aug 1- Activity in China's vast factory sector expanded at the fastest pace in 27 months in July, while industry surveys across Asia showed a pick up in export orders that hinted at a long-awaited revival in global trade. The upbeat result was echoed in the HSBC/ Markit China measure of manufacturing which climbed to an 18- month peak of 51.7, from June's 50.7.
HONG KONG— World stock markets sank on Friday, with European benchmarks opening sharply lower after Wall Street's sharp sell-off. London's FTSE 100 dropped 1.1 percent to 6,656.19. ASIA'S DAY: Japan's benchmark Nikkei 225 index dropped 0.6 percent to close at 15,523.11 and Hong Kong's Hang Seng fell 0.9 percent to 24,532.43.
A separate PMI published by HSBC/ Markit also rose to 51.7, its best performance in 18 months. Now that looser monetary policy is having its intended effect, some analysts questioned the need for more economic stimulus in China, at least in the near term.
SEOUL, Aug 1- South Korean exports in July grew at their fastest annual clip in seven months, but relatively subdued inflation and weakness in shipments to China kept alive the prospect of an interest rate cut at this month's central bank policy review.
A separate PMI by HSBC, also released Friday, was revised down to 51.7 from its preliminary reading of 52, but still the strongest rate of improvement in a year and half.
The HSBC/ Markit China manufacturing Purchasing Managers' Index climbed to 51.7 last month, up from June's 50.7 but slightly below a preliminary reading of 52.. Growth in new export orders accelerated at the second-fastest pace in 44 months, HSBC/ Markit said.
BEIJING, Aug 1- China's vast factory sector posted its strongest growth in 18 months in July as new orders surged to multi-month highs, a private survey showed on Friday, adding to signs the economy is regaining momentum after a flurry of government stimulus measures.
*July official PMI at 51.7, highest since April 2012. BEIJING, Aug 1- Activity in China's vast factory sector expanded at the fastest pace in 27 months in July on stronger demand, a government survey showed, adding to evidence that the economy is regaining momentum after a burst of government stimulus measures.
*July HSBC/ Markit mfg, export orders PMIs both miss 50. South Korea's exports in July grew 5.7 percent from a year earlier to $48.42 billion and imports rose 5.8 percent to $45.90 billion, the trade ministry data showed.
*Gold melts to a 6- week low, oil hits 4- month trough. SYDNEY, Aug 1- Asian shares stumbled on Friday after a month-end swoon on Wall Street, though some were hoping China would offer better news on manufacturing and help steady investor sentiment. MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.5 percent.
*CVR Refining said on Thursday that its 115,000- barrel-per-day Coffeyville, Kansas, refinery, which is a major consumer of West Texas Intermediate crude, could be down four weeks after a July 29 fire in the facility's isomerization unit.
SEOUL, Aug 1- South Korea's manufacturing activity shrank for a third consecutive month in July but the pace eased from June, a private-sector survey showed on Friday, as the export-reliant economy continued to struggle to regain momentum.
*Central bank reaffirms no rush to raise interest rates. NEW YORK/ LONDON, July 30- Gold futures ended lower on Wednesday, but traders largely shrugged off a statement from the Federal Reserve hinting the U.S. central bank was in no rush to hike interest rates, which would reduce appetite for the precious metal.
Gold was trading in a tight range below $1,300 an ounce, as investors nervously awaited the end of a Federal Reserve policy meeting.
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