Markets were mostly lower on Monday.
The S&P 500 fell 0.8 percent, the STOXX Europe 600 plunged 1.6 percent but the Nikkei 225 rose 1.0 percent.
US stocks were weighed down by a report from the Institute for Supply Management showing that its manufacturing index unexpectedly fell to 48.1 in November from 48.3 in October.
However, a separate report from Market showed that its manufacturing PMI rose to 52.6 in November from 52.2 in October.
Meanwhile, China's manufacturing sector improved in November. After the National Bureau of Statistics reported over the weekend that its manufacturing PMI rose to 50.2 in November from 49.3 in October, a report on Monday showed that the Caixin/Markit manufacturing PMI rose to 51.8 in November from 51.7 in October.
Recent economic data have been positive enough for Deutsche Bank to conclude in a new report: “There are signs that the global economy is bottoming out. We now expect an improvement in global growth next year.”
“Key to our optimism is that the risks of trade wars and Brexit are evolving in positive ways,” the Deutsche Bank team said.
However, Monday brought more news suggesting that trade risks remained, this time with US President Donald Trump announcing that he would restore tariffs on all steel and aluminium that is shipped into the US from Brazil and Argentina for “presiding over a massive devaluation of their currencies”.
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