European stocks turned higher on Monday after early losses, as improving data on the economy helped offset disappointing results from HSBC Holdings and Société Générale.
Up 1.1% in July, the Stoxx Europe 600
U.S. stock futures
eased after a 5.5% gain for the S&P 500
in July. Lawmakers reported progress on a new stimulus package over the weekend but gaps remained between Democrats and Republicans.
Economic data showed how far the recovery has progressed. The Caixin China manufacturing purchasing managers index rose to 52.8 in July, with the best readings for output and new orders since January 2011. Spain’s manufacturing PMI rose to 53.5, its best showing since April 2018, as the final manufacturing PMI reading for the eurozone came in stronger than the flash report.
The U.S. economics calendar includes the Institute for Supply Management’s manufacturing index and a number of nonvoting Federal Reserve officials speaking.
declined after reporting a € 1.26 billion loss for the second quarter.
slipped 5% after reaching a deal to buy radiation therapy software company Varian Medical Systemsms
for $16.4 billion. Siemens
said its stake in Siemens Heathineers will fall to 72% from 85% as part of the fundraising for the deal.