European Shares Edge Higher After PMI Data

RTTNews | 1 dag sedan
Stocktwits
European Shares Edge Higher After PMI Data

(RTTNews) - European stocks traded higher on Tuesday after a measure of Eurozone business activity hit a 16-month high in September.

The HCOB Flash Eurozone Composite Purchasing Managers' Index, compiled by S&P Global, edged up to 51.2 in September from 51.0 in August, marking the ninth consecutive month of growth but new orders stagnated after briefly expanding in August.

While the services sector pulled up business activity, the manufacturing sector slumped back into contraction, clouding the outlook.

The pan European Stoxx 600 rose 0.4 percent to 555.74 after ending 0.1 percent lower on Monday.

The German DAX gained 0.6 percent, France's CAC 40 climbed 0.9 percent and the U.K.'s FTSE 100 rose 0.4 percent.

In corporate news, travel group TUI rallied 3.2 percent after announcing that it is on track to deliver higher profit growth for fiscal 2025.

Engineering firm Smiths Group surged 4.1 percent after reporting stronger annual profit and lifting dividend.

Land Securities, a real estate investment trust company, jumped 4 percent after backing its annual outlook.

Home-improvement retailer Kingfisher soared 18 percent after lifting its expectations for the fiscal year.

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