(News Bulletin 247) – The European stock markets are moving in dispersed order (+0.3% in London and Paris, -0.1% in Frankfurt) at the end of a morning dominated by the publication of composite PMI indices highlighting a some strength in the region’s economies.
The HCOB composite flash PMI of overall activity in the euro zone rebounded from 53.7 in March to 54.4 this month, signaling strong growth in private sector activity in April, at its highest rate in 11 months.
‘Less positively, growth has become increasingly unbalanced, driven only by the services sector while manufacturing production has relapsed into contraction territory on the back of a plunge in demand for goods’, nuance HCOB.
‘The continued strength of the PMIs is clearly a reason for ECB officials to opt for a larger rate hike in May’, further judges Capital Economics, recalling that they have hinted that they have none not yet decided the magnitude.
Regarding the United Kingdom, the composite PMI index reached a one-year high of 53.9 after 52.2 in March, the investigators deducing that the British economy could see a ‘robust’ growth of the l 0.4% during the quarter.
In the news of values, operators react rather favorably to the quarterly Mercedes-Benz (+1% in Frankfurt), but remain unmoved by those of SAP (stable in Frankfurt) and tend to abandon those of Holcim (- 1% in Zürich).
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