Scoreboard: Manufacturing blues

European markets rose slightly as speculation of M&A activity in the media sector supported sentiment following weaker-than-expected PMI data.

In European economic data, the eurozone manufacturing index fell from 51.8 to 50.7 in August -- the lowest reading in 13 months. The rate of expansion slowed in Spain, Netherlands and Germany. France remained the laggard with its PMI at 46.9 -- the sharpest rate of decline since last May. Italy's PMI dropped back into contraction after 13 months of expanding. Ireland was the exception where the PMI reading came in at the fastest pace since 1999.

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