Major European PMI Manufacturing Data Comes In Mixed

(IN) India Aug Markit Manufacturing PMI: 52.8 v 52.9 prior

(RU) Russia Manufacturing PMI: 51.0 v 52.0 prior

(JP) Japan Aug Vehicle Sales Y/Y: 7.3% v 36.1% prior

(IN) India July Trade Balance: -$15.5B v -$15.5B; Exports Y/Y: -14.8% v -5.5% prior; Imports Y/Y: -7.6% v -13.5% prior

(IE) Ireland Aug NCB Manufacturing PMI: 50.9 v 53.9 prior

(SE) Sweden Aug Swedbank PMI Survey:45.1 v 50.1e

(AU) Australia Aug RBA Commodity Price Index Au: 90.3 v 94.4 prior; Commodity Index SDR Y/Y: -13.7% v -11.1% prior

(HU) Hungary Aug PMI: 49.5 v 51.9 prior

(PL) Poland Aug Manufacturing PMI: 48.3 v 49.7 prior

(TR) Turkey Aug Manufacturing PMI: 50.0 v 49.4 prior

(CZ) Czech Q2 Avg Real Wage Y/Y: -1.1% v 0.0%

(TR) Turkey Aug Consumer Prices M/M: 0.6% v 0.0%e; Y/Y: 8.9% v 8.3%e; Core CPI Y/Y: 7.2% v 7.5% prior

(TR) Turkey Aug Producer Prices M/M: +0.3% v -0.3% prior; Y/Y: 4.6% v 6.1% prior

(TH) Thailand Aug Consumer Price Index M/M: % v 0.4%e; Y/Y: 2.7% v 2.6%e; Core CPI Y/Y: % v 1.7%e

(EU) ECB: €590M borrowed in overnight loan facility vs. €571M prior; €346.0B parked in deposit facility vs. €330.3B prior

(ES) Spain Aug Manufacturing PMI: 44.0 v 42.8e; Highest reading since March but the 16th straight month of contraction

(CH) Swiss July Real Retail Sales Y/Y: 3.2% v 3.3% prior

(CZ) Czech Aug Manufacturing PMI: 48.7 v 49.5 prior

(CH) Swiss Aug PMI Manufacturing: 46.7 v 49.1e

(IT) Italy Aug PMI Manufacturing: 43.6 45.0e, 10-month low

(FR) France Aug Final PMI Manufacturing: 46.0 v 46.2e

(DE) Germany Aug Final PMI Manufacturing: 44.7 v 45.1e

(RU) Russia Aug Reserve Fund: $60.5B v $59.9B prior; Wellbeing Fund: $85.9B v $85.2B prior

(GR) Greece Aug Manufacturing PMI: 42.1 v 41.9 prior

(EU) Euro Zone Aug Final PMI Manufacturing: 45.1 v 45.3e

(NO) Norway July Credit Indicator Growth Y/Y: 6.9% v 7.1%e

(UK) Aug PMI Manufacturing: 49.5 v 46.1e

(DK) Denmark Aug PMI Survey: 51.7 v 48.0 prior

(ZA) South Africa Aug Kagiso PMI: 50.2 50.0e

Fixed Income
(PH) Philippines sold total PHP7.5B vs. PHP7.5B indicated in 3-month, 6-month and 12-month Bills

(NO) Norway sold NOK3.0B vs. NOK3.0B indicated in 2% 2023 Bonds; Avg Yield 2.08% v 2.16% prior

(NL) Netherlands Debt Agency (DSTA) sold total €2.7B vs. €4.0B in 3-month and 6-month Bills

Sold €1.61B vs. €2.0B indicated in 3-month Bills; Yield: -0.063% v -0.043% prior; Bid-to-cover: 2.51x v 3.13x prior

Sold €1.12B vs. €2.0B indicated in 6-month Bills; Avg Yield: -0.027% v -0.021% prior; Bid-to-cover: 2.75x v 2.59x prior

Notes/Observations
China Aug final PMI Manufacturing confirms contraction. Asian equity shares higher easing hopes

Australia Retail Sales register their largest decline in two years with its first negative reading of 2012; Aussie dollar hits 6-week lows

Most major European PMI Manufacturing PMI come in lower than expectations; UK was the exception and exceeded expectations

Equities
FTSE 100 +0.4% at 5736, DAX +0.50% at 7,003, CAC-40 +0.7% at 3437, FTSE MIB -0.1% at 15,179, SMI +0.6% at 6422, S&P 500 Futures -0.41% at 1404.40

European equity markets edged marginally higher in the session supported by a strong showing in the resource sector as weak Chinese manufacturing data overnight spurred hopes for monetary easing measures by the PBoC. There were also expectations that ECB would outline a plan for sovereign bond purchases to help lower the borrowing costs of peripheral members.

Vodafone Group [VOD.UK] signed Multi-country partner market agreement with Zain

Daily Mail&General [DMGT.UK] Sold 50% stake in DMG Radio Australia for £65M

Gemfields Plc [GEM.UK] appointed Mark Summers as CFO; effective immediately

Royal Dutch Shell [RDSA.UK] completed sale of Nigerian OML40 for $102M

Rhoen-Klinikum [RHK.DE] Fresenius suspended its plans to renew its €3.1B offer for company but announced it would increase its stake inorder to preserve its strategic options

E.on [EOAN.DE] signed 4.65 bcm gas deal with Rosneft for 2013-2015 period

Remy Cointreau [RCO.FR] acquired single malt Scotch whiskey Bruichladdich; No terms disclosed

Alstom [ALO.FR] signed a MOU for a JV with Toshiba on smart grid business

Wolters Kluwer [WKL.NL] To acquire assets of BSI; financial terms not disclosed

Svenska Handelsbanken [SHBA.SE] Russia annulled license of unit

Volvo [VOLVB.SE] Exec commented that demand for buses was roughly at the same level as after Q2

Gold Fields Limited[GFI.ZA]stated that the strike at KDC East Mine in South Africa continued with 12K employees taking part