

Asian markets have started the day on the back foot after new data from China showed the recovery in the world’s second-biggest economy is faltering.
China’s manufacturing PMI fell to 48.2 in May – an even greater contraction than expected. Services growth slumped to its slowest pace in four months.
MSCI’s index of Asia-Pacific shares outside Japan fell 1.2pc, taking losses this month to 2.5pc as hopes of a rebound in growth in China have run dry. Hong Kong shares are down 20pc from their peak in January.
The lacklustre figures add to broader negative sentiment across markets, with US investors focused on a vote over the country’s debt ceiling.
The FTSE 100 closed down 1.4pc yesterday, while the latest Lloyds business barometer showed confidence fell for the first time in three months in May. European stocks are set to open lower this morning.
Read the latest updates below.