BLBG: U.S. Stock Futures Advance As U.K. Manufacturing Climbs
U.S. stock-index futures advanced, erasing earlier losses, after a report showed U.K. manufacturing unexpectedly rose in May, easing concern Europe will be a drag on the global economy.
Futures on the Standard & Poor’s 500 Index expiring in September gained 0.2 percent to 1,352.4 at 9:51 a.m. in London. The benchmark gauge slipped 1.6 percent in the past three trading days as jobs data heightened concern about a slowing economy and optimism faded that Europe will resolve its debt crisis. Dow Jones Industrial Average futures climbed 36 points, or 0.3 percent, to 12,721 today.
U.K. factory output rose 1.2 percent from April, the Office for National Statistics said today in London. The median forecast of 26 economists in a Bloomberg News survey called for a decline of 0.1 percent. Overall industrial output increased 1 percent. The statistics office said both May and June data may be distorted by the movement of the public holiday.
To contact the reporter on this story: Peter Levring in Copenhagen at plevring1@bloomberg.net
To contact the editor responsible for this story: Andrew Rummer at arummer@bloomberg.net
