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Euro-Area Shrugs Off Brexit Concerns With PMI Gain

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Euro-area PMIs show resilience after Brexit vote, oil drops again and Hillary says she's fine, thanks. Here are some of the things people in markets are talking about today.

Euro-area PMIs

Data released by IHS Markit this morning show the euro-area remained on a steady growth path in August, with a composite Purchasing Managers Index rising for a second month to 53.3. Germany, the largest economy in the currency bloc, lost some momentum as manufacturing and services cooled. In France, where former president Nicolas Sarkozy announced he is throwing his hat into the ring for next year's presidential election, PMI data showed the economy is picking up.

Oil falls 

West Texas Intermediate for October delivery was trading 1 percent lower at $46.95 a barrel at 5:57 a.m. ET, following  yesterday's decline. Goldman Sachs Group Inc. has warned that any agreement to freeze output at next month's informal OPEC talks could prove to be self-defeating as it would benefit other suppliers. The recent rally in prices, which saw oil enter a bull market wasn't enough to stop withdrawals from the ETF which tracks oil prices, with the U.S. Oil Fund losing the most since March last week. 

Markets rise

The MSCI Asia Pacific Index added 0.1 percent overnight, as pressure from crude prices and the strengthening yen was outweighed by advances in health-care and consumer staples. In Europe, the Stoxx 600 was 0.9 percent higher at 6:05 a.m. ET, with equities boosted by the positive PMI data released earlier. S&P 500 futures added 0.3 percent.  

Bayer, Monsanto move closer to deal

Bayer AG and Monsanto Co. are making progress towards a deal in the coming weeks, according to people familiar with the matter. The back-and-forth between the two companies that began with Bayer's initial offer in May could end soon as negotiations are progressing on the purchase price. In other corporate news, Volkswagen AG reached a deal with a parts supplier to end a dispute that saw production halted at some of its factories. 

Clinton says she's fine

Democratic presidential nominee Hillary Clinton strongly rejected speculation fermented by her Republican rival Donald Trump and his supporters that she is in poor health during an appearance on ABC’s "Jimmy Kimmel Live." Donald Trump, who may be softening some of his campaign pledges, still faces an uphill battle in his run for the White House, with even Texas proving less warm than usual to a republican nominee.

What we've been reading 

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