Stocks in Europe opened lower on Thursday as market participants focus on the release of Purchasing Managers’ Index (PMI) deliveries from Germany and the eurozone as a whole.
The European Euro Stoxx 50 slid 0.22% lower at 3,145.50, while the French CAC 40 opened 0.05% lower at 4,322.80. At the same time the German DAX edged 0.29% lower to 9,691.50 and the UK FTSE 100 declined 0.12%, standing at 6,817.80.
On Wednesday, major stocks in Europe closed in negative territory following the release of the earnings deliveries from three major companies.
Meanwhile in Spain, the Labour Ministry for the country posted the unemployment rate which rose 26.03% higher in the fourth quarter of last year.
Stocks – Europe PMIs
The flash Manufacturing Purchasing Managers’ Index (PMI) for France advanced to 48.8 points in January, rising from the previous month’s final reading of 47.0 and beating analysts forecast of 47.5 points; reports from Markit Economic confirmed.
In Germany, the manufacturing sector and services PMI are expected to show an improvement this month.
The manufacturing sector for the eurozone is expected to show a slight improvement while services PMI for the eurozone is forecasted to show a rise to 51.2 in January, slightly higher from the reading of 51 seen in the previous month.
Flash PMIs for will be released later during the day.
Stocks – China
China’s PMI for January came in lower than expected, standing at 49.6, data from HSBC Holding PLC and Markit Economics confirmed. Dropping below the previous month’s flash reading of 50.5 and down from analysts forecast of 50.3; a reading below the 50-mark indicates contraction.
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