
Stock Market Today - China's Services Activity Hits Three Month High
Also: Business growth in the eurozone remained unimpressive last month. ABInBev, SABMiller obtained another delay of the deadline from the U.K. for the formal offer of their merger.
NEW YORK (TheStreet) -- Services activity in China
rose to a three-month high in October, a survey showed. The Caixin/Markit services PMI was 52.0 in October vs. September's 14-month low of 50.5. This was the highest level since July 2015. A sub-index measuring new business jumped to 52.9 from September's 50.5; the employment sub-index also improved to a three-month high.
- Business growth in the eurozone remained unimpressive last month, in a sign that the European Central Bank's efforts to stimulate the economy still have not penetrated the economy fully. Markit's final October Composite Purchasing Managers' Index (PMI) came in at 53.9, weaker than an earlier estimate of 54.0 but above September's four-month low of 53.6. The index has been above the 50 mark denoting expansion since July 2013.
- ABInBev (BUD) and SABMiller (SBMRF) have obtained yet another delay of the deadline from the U.K.'s Panel on Takeover and Mergers for the formal offer of their merger, in efforts to drum up shareholder support. The new deadline is Nov. 11.
- Maersk Line, the container shipping firm, will cut 4,000 jobs by the end of 2017 and step up cost cuts because of a slowdown in the shipping sector, the Wall Street Journal reports. The announcement follows a full year profit warning issued last month.
- Profit at Dutch Bank ING increased by 15%, slightly more than expected in the third quarter, as bad loans fell. Third-quarter profit was 1.06 billion euros ($1.49 billion), benefiting from lower loan loss provisions in Belgium and the Netherlands.








