Outside Malaysia

US stocks fall as drugmakers slide on deal crackdown

US stocks fell as health-care shares slid amid a government crackdown on tax-saving mergers and as the MiddleEast conflict escalated. The S&P 500 lost 0.6% to 1,982.77. The Dow Jones Industrial Average slid 116.81 points (0.7%) to 17,055.87.

Bullard says ‘natural’ to drop Fed’s rate pledge next month

Federal Reserve Bank of St. Louis President James Bullard said the central bank may need to drop its pledge next month to keep interest rates low as so-called quantitative easing isbrought to a close. Bullard also repeated his forecast thatthe central bank may raise rates at the end of the 1Q15, based on his outlook for a robust US economy.

Markit US factory index holds at more than four-year high

The Markit Economics preliminary index of US manufacturing held at a more than four-year high of 57.9 in September, unchanged from August’s reading, the group said. A reading above 50 for the purchasing managers’ measure indicates expansion and the measure this month matched the strongest since April 2010. The median forecast in a Bloomberg survey of economists was 58.

Euro-area surveys show slowdown putting pressure on ECB

Euro-area manufacturing and services growth unexpectedly slowed to the weakest pace this year, increasing pressure on the European Central Bank (ECB) to add stimulus to the economy. Purchasing Managers Indexes (PMI) for both industries fell and a composite gauge dropped to 52.3 in September from 52.5 in August, Markit Economics said. Economists in a Bloomberg survey predicted an unchanged reading.

German factory growth at 15-month low in sign of uneven economy

German manufacturing expanded at the slowest pace in 15 months in September as new orders fell, signaling uneven momentum in Europe’s largest economy. Markit Economics said its PMI fell to 50.3 in September from 51.4 in August, the weakest since June 2013. Economists surveyed by Bloomberg News predicted a drop to 51.2.

UK budget deficit widened in August in blow to Osborne

Britain’s budget deficit widened in the first five months of the fiscal year, underlining the task facing Chancellor of the Exchequer George Osborne to cut borrowing this year. Net borrowing excluding public-sector banks was £45.4bn (US$74.2bn) between April and August compared with £42.8bn a year earlier, the Office for National Statistics said. In August alone, the deficit was £11.6bn from £11bn a year earlier, as capital investment rose. Tax income increased 3.2% and spending climbed 2.6%.

Manufacturing rebound relieves growth concerns in China

A Chinese manufacturing gauge unexpectedly increased this month, suggesting export demand is helping the economy withstand a property slump. The preliminary PMI from HSBC Holdings Plc and Markit Economics was at 50.5 in September from 50.2 in August. The median forecast in a Bloomberg survey of economists was 50.

WTI rises as US and Arab allies strike Islamic State

WTI crude advanced after the US and its Arab allies launched a series of airstrikes against Islamic State positions in Syria. Brent for November settlement fell US$0.12 to US$96.85 a barrel.

Source: Bloomberg