Market Comment | European stocks rise on manufacturing data.

Summary

U.S. markets were closed for the Labor Day holiday. In Europe, investors traded cautiously with trade tensions and Brexit turmoil in the spotlight.

Key points

• Key points:
• The euro hit a two-year low against the USD as market expectations of a 20 bps depo rate cut in September rose significantly.
• Fears of a no-deal Brexit dragged down the yield on 10Y Gilts.
• The FTSE 100 benefited from the slide in the pound.
• ARS gained after Argentina set capital controls.

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