Bund futures reverse losses on weak business surveys

LONDON: German Bund futures reversed losses on Wednesday after a survey showed the country's private sector shrank more than expected for a sixth month in a row and a business sentiment indicator dropped.

Markit's composite Purchasing Managers Index (PMI), measuring activity in both manufacturing and services, dipped to 48.1 in October from 49.2 the previous month, remaining below the 50 mark that separates growth from contraction.

The Ifo business sentiment indicator for October was also weaker than expected.

Bund futures were last 21 ticks higher on the day at 140.56.