Shares of industrial and transportation companies rose as investors shrugged off a weak factory-activity report.
The Institute for Supply Management said Friday that its index of manufacturing activity fell to 53.0 in June from 56.1 in May, the lowest reading since June 2020.
“This month’s business surveys suggest that labor market tightness eased, supply chain disruptions moderated, and demand decelerated somewhat in June,” said analysts at brokerage Goldman Sachs, in a note to clients.
China placed a large order on behalf of three of its biggest airlines for close to 300 jets from Airbus, the first major commitment from the country to new planes since before the pandemic.
German manufacturing conglomerate Siemens said it could see a non-cash impairment of about $2.92 billion on its investment in Siemens Energy.
Aston Martin Lagonda Global said it regularly keeps funding options under review, as the luxury carmaker responded to media reports that it was planning to raise funds without outright denying them.
Write to Rob Curran at [email protected]
(END) Dow Jones Newswires
07-01-22 1653ET
