In Paris, shares in telecom group Iliad, owner of low-cost operator Free, fell on unexpectedly weak six-month results but also on the group's repeated determination to press on with a bid for US operator T-Mobile US. "Geopolitical risk will likely continue to overshadow the market in the days ahead, especially given the one-week deadline set by the EU for Russia to scale back operations in Ukraine or face more sanctions," Credit Agricole analysts said.
It compared with the prior flash reading of 50. 8, and a figure of 51. 8 in July. "Although readings of above 50 are generally seen as positive, this figure provides further ammunition for those criticising (ECB chief) Mario Draghi for failing to announce proper quantitative easing measures for the eurozone," ETX Capital analyst Daniel Sugarman said. "However at the Jackson Hole economic symposium a week ago Mr Draghi hinted at a preparedness to take further steps should the eurozone economy continue to worsen.
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