Global Stocks Steady Ahead of Greek Market Reopen

By Josie Cox 

        Global stocks started the week trading in a cautious manner, with investors focusing on disappointing Chinese manufacturing data and the reopening of Greece's equity market after a five-week closure.
        In early trade, the Stoxx Europe 600 gained 0.2%. In Asia, equities dropped amid jitters about weakening Chinese manufacturing data and the continued declines in commodity prices.
        A gauge of Chinese factory-floor activity slumped to a two-year low on Monday, exacerbating concerns surrounding the country's struggling stocks, sluggish property market and weak demand at home and abroad.
        In Greece, meanwhile, the country's main stock exchange was due to reopen Monday after a more than monthlong closure. Still, strategists say it could take months before investors' confidence in Greek assets is restored.
        The exchange halted trading on June 29, after Greek Prime Minister Alexis Tsipras said the country would hold a referendum on whether to accept terms that its international creditors were offering in return for fresh financial aid.
        The euro was largely flat in early European trade at $1.0989 to the dollar. The dollar was marginally higher against Japan's yen at $124.04.
        In commodity markets, Brent crude was close to 1% lower at $51.71 a barrel. Gold was broadly flat at $1,095.70 a troy ounce.
        Write to Josie Cox at josie.cox@wsj.com
        (END) Dow Jones Newswires

        August 03, 2015 03:21 ET (07:21 GMT)

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