Most stock indices traded higher after strong Chinese purchase managers’ index. China’s PMI increased to 50.8 in May, beating expectations of a rise to 50.7 from 50.4 in April. That was the fastest pace in five months.
PMIs were also in focus in the Eurozone. Eurozone’s manufacturing purchase managers’ index (PMI) decreased to 52.2 in May from 52.5 in April. Analysts had expected that the index remained unchanged.
Germany’s manufacturing PMI fell to 52.3 in May from 54.1 in April. Analysts had forecasted a decline to 52.9.
France’s manufacturing PMI sank to 49.6 in May from 51.2 in April. Analysts had expected a decrease to 49.3.
German preliminary consumer price index fell 0.1% in May, after a decline of 0.2% in April. Analysts had expected a 0.1% rise.
On a yearly basis, German preliminary consumer price index rose 0.9% in May, after a 1.3% gain in April. Analysts had forecasted a 1.1% increase.
All these weak figures in the Eurozone added to expectations for further easing measures by the European Central Bank. The ECB will release its interest rates decision on Thursday.
In the U.K., the manufacturing purchase managers’ index declined to 57.0 in May from 57.3 in April. Analysts had forecasted a fall to 57.1.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,864.1 +19.59 +0.29%
DAX 9,950.12 +6.85 +0.07%
CAC 40 4,515.89 -3.68 -0.08%
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