The broader rally in the industrial sector followed the latest survey results, which signaled cooling concerns over factory output. While domestic markets responded to the expansion, the outlook proved far grimmer for French train manufacturer Alstom. The company saw its share price plummet following an admission that technical and production hurdles forced a significant reduction in its growth projections.
Industrial Stocks Climb on Robust Manufacturing Growth
A surge in U.S. manufacturing activity powered industrial and transportation shares higher this week, contrasting with a sharp downturn for European rail interests. The Institute for Supply Management reported an October purchasing managers' index of 55.5, a notable acceleration from the 54.5 recorded in September.
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