Home Stock & Shares Asia shares slip, crude steadies; U.S. jobs in focus

Asia shares slip, crude steadies; U.S. jobs in focus

by Jonathan Adams

Asian shares dipped on Thursday after lower crude oil prices dented Wall Street and a pair of Chinese manufacturing surveys did little to inspire investors as markets waited to see if U.S. employment data could put the Federal Reserve on track to hike interest rates.

Crude oil futures took back some lost ground after skidding on news of a large weekly build in U.S. crude and distillate stockpiles and a smaller-than-expected drawdown in gasoline.

Financial spreadbetter CMC Markets expected Britain’s FTSE 100, Germany’s DAX and France’s CAC 40 to all open modestly higher.

“The latest UK manufacturing survey could well assuage some concerns about the health of the UK economy in the wake of the recent Brexit vote, if as expected we get a rebound from July’s disappointing 48.2 reading, with an August rebound to 49.1 expected,” wrote Michael Hewson, chief market analyst at CMC Markets in London.

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