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European stocks dropped. Market participants were focussed on euro zone purchasing managing index (PMI). The figures beat expectations. Manufacturing PMI (Preliminary) of the Eurozone increased to 53.3 in April from 53.0 in March. The projected figure was 53.0. But there are concerns about further quantitative stimulus measures by the European Central Bank.
Weak earnings of Ericsson had a negative influence on stock markets.
Ericsson - the Swedish mobile telecom equipment maker – fell 4.70% after announcing the worse-than-expected revenue in the first quarter.
Scania AB shares declined 4.5 percent after a shareholder rejected Volkswagen AG’s offer for remaining shares in the Swedish company.
AB Foods (ABF) climbed 8.2 percent caused by the first-half operating profit increase of its Primark clothing-retail business.
Banca Monte dei Paschi di Siena SpA increased 3.9% because of Goldman Sachs’ upgrade of the stock to neutral from sell.
Name Price Change Change %
FTSE 100 6,670.06 -11.70 -0.18%
DAX 9,574.39 -25.70 -0.27%CAC 40 4,467.15 -17.06 -0.38%
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