Good morning! These are the stories already moving markets before the open Tuesday.
The Eurozone’s PMI Reading Dropped Again. It’s just the latest in a number of deteriorating indicators for the struggling eurozone.
Shares In The World’s Second-Biggest Retailer Are At An 11-Year Low. After Tesco’s accounting blunder announced on Monday, shares are falling again Tuesday morning, pushing below £2 ($3.27) for the first time since 2003.
Philips Wants To Split Its Company In 2. The Dutch electrical appliance group wants to separate its healthcare-lifestyle and lighting businesses after stripping away less profitable activities.
There’s A Bit Of Good News Out Of China. The country’s manufacturing PMI came in at 50.5, a slight improvement given investor concerns that the massive emerging economy is slowing down.
US Manufacturing Data Comes Out. The Richmond Fed manufacturing index and Markit’s US manufacturing PMI are both set to arrive, which should give some hint at the sector’s strength in September.
US Airstrikes Were Launched In Syria. The US government’s military campaign against Islamic State militants has spread over the border of Iraq and into Syria.
European Markets Are Down. The UK’s FTSE 100, France’s CAC 40, and Germany’s DAX are all down by more than 1% Tuesday morning. This comes after the release of poor eurozone PMI data. The Hang Seng and Nikkei in Asia closed down 0.49% and 0.71%, respectively.
Jimmy Choo Just Filed For An IPO In London. The fashion firm’s financial situation doesn’t look amazing, according to Business Insider’s Jim Edwards.
Air France Is Still Struggling With A Pilot Strike. The company’s CEO said on Tuesday that the dispute could mean the firm would have to scrap the launch of its new low-cost airline.
The US Government Is Trying To End Tax Inversions. The Treasury Department announced on Monday ways in which it was trying to make tax inversions less economically attractive.