European markets opened September trading with slight gains after ending last week at their lowest levels in more than two weeks, while oil prices declined under pressure from shrinking manufacturing activity in China and record U.S. output.

The Stoxx Europe 600 Index rose 0.25% to 551 points, supported by gains in healthcare and pharmaceutical stocks. Losses in utilities, energy, and mining shares capped broader gains.

FTSE 100 (UK): up 0.3% to 9,212 points
CAC 40 (France): up 0.25% to 7,723 points
DAX (Germany): up 0.35% to 23,982 points

Oil Prices Decline on Chinese and U.S. Data

In commodity markets, oil prices retreated:

Brent crude (Nov delivery): down 0.4% to $67.22 per barrel
WTI crude (Oct delivery): down 0.35% to $63.77 per barrel

The pressure on prices followed an official survey showing that China’s Manufacturing PMI in August rose slightly to 49.4, but remained below the 50-point threshold separating growth from contraction for the fifth consecutive month.

Additionally, U.S. Energy Information Administration (EIA) data released Friday added pressure to the market, showing U.S. crude production reached a record high of 13.58 million barrels per day in June.

Eurozone Data in Focus

Investors are now awaiting the final reading of the Eurozone Manufacturing PMI, after preliminary data indicated improvement in the sector during August.

Summary

European equities kicked off September with modest gains, led by healthcare, while oil prices extended declines due to China’s manufacturing slowdown and record U.S. crude production.

European Stocks Rise at the Start of September

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