Nirmal Bang Securities Pvt. Ltd. - Daily Report 061009

[equityresearch]

Europe’s manufacturing and services industries expanded more than
initially estimated in September, adding to signs the economy is
gaining steam after the worst recession in six decades. A composite
index of both industries in the euro‐area economy rose to 51.1, up
from 50.4 in August and higher than an initial estimate of 50.8,
London‐based Markit Economics said today in a statement. A reading
above 50 indicates expansion and the gauge, which is based on a
survey of purchasing managers, had remained below that level for 14
months before topping it in August. Economists had projected the
index would rise to 50.9 in September, according to a Bloomberg
News survey.

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