European Stocks Close Higher On Bargain Hunting, Fairly Positive Economic Data

(RTTNews) - European stocks closed broadly higher on Wednesday as slightly encouraging data on private sector activity in the region aided sentiment. Bargain hunting at several counters after Tuesday's decline helped as well in pushing up prices.

The major markets in Europe had tumbled on Tuesday amid concerns over debt sustainability in major economies across Europe and Asia, and political uncertainty in France.

The pan European Stoxx 600 climbed 0.66%. The U.K.'s FTSE 100 gained 0.67%, while Germany's DAX and France's CAC 40 closed stronger by 0.46% and 0.86%, respectively. Switzerland's SMI ended 0.92% up.

Among other markets in Europe, Belgium, Denmark, Finland, Greece, Iceland, Ireland, Netherlands, Poland, Russia, Spain and Sweden ended with sharp to moderate gains.

Norway, Portugal and Turkiye closed weak, while Czech Republic ended flat.

In the UK market, Fresnillo surged more than 8%. Endeavour Mining, Babcock International, Antofagasta, IAG, Taylor Wimpey, AstraZeneca, Anglo American Plc, Persimmon, Unite Group, Haleon and Reckitt Benckiser gained 2 to 4%.

Ashtead Group climbed nearly 3% after posting in-line quarterly results and lifting its free cash flow guidance. However, the stock pared most of its gains and finally ended the day with a gain of nearly 1%.

The company reported that its profit before tax for the first quarter ended 31 July 2025 declined to $511.6 million from $544.4 million in the previous year.

Ashtead reaffirmed revenue and capex guidance for the year, while raised it for free cash flow. The company continues to progress its relisting on the NYSE that is currently scheduled for March 2026.

Pearson ended down by about 3.5%. BT Group, BP, Airtel Africa, Shell and Admiral Group lost 1 to 1.7%.

In the German market, Adidas climbed nearly 5%. Zalando gained about 4.1% and Airbus moved up 3.1%. Bayer advanced by nearly 2.3%.

Siemens Energy, SAP, Merck, Deutsche Boerse, MTU Aero Engines, Siemens Healthineers, E.ON, Henkel and Vonovia gained 0.7 to 2%.

Infineon tumbled nearly 5%. Puma drifted down 4.1%, while Continental, Heidelberg Materials, Daimler Truck Holding and Commerzbank lost 1.6 to 2.5%.

In the French market, Airbus climbed 3.1%. Capgemini gained about 3%. Schneider Electric, Publicis Groupe, Eurofins Scientific, Sanofi, Thales, Veolia Environment, LVMH, ArcelorMittal, Danone, Engie, Vinci and Dassault Systemes also ended with impressive gains.

Stellantis closed down 2.6%, while Renault, Orange, STMicroElectronics and TotalEnergies lost 1.4 to 2%.

Final data from S&P Global showed the HCOB Germany Composite PMI was revised lower to 50.5 in August 2025 from a preliminary of 50.9, and compared to 50.6 in July. The manufacturing PMI for August came in at 49.8 compared to 49.1 in July, while the services sector fell back into contraction, with the index recording a score of 49.3 in August, dropping from 50.6 in the previous month.

The HCOB Eurozone Composite Purchasing Managers' Index (PMI) edged up from 50.9 in July to 51.0, marking a 12-month high.

The HCOB Composite PMI in France increased to 49.8 in August from 48.6 in July of 2025, data from S&P Global showed. The Services PMI rose to 49.8 in August 2025 from 48.5 in July, slightly above the initial estimate of 49.7. This marked its highest level in a year.

The HCOB Eurozone Composite Purchasing Managers' Index (PMI) edged up from 50.9 in July to 51.0, marking a 12-month high.

Data from S&P Global showed the UK S&P Global Composite PMI was revised slightly higher to 53.5 in August 2025 from an initial estimate of 53.0, up from 51.5 in July. This marked the fourth consecutive month of growth and at the quickest pace since August 2024.

A sharp jump in the nation's services sector activity - the Service PMI rose to 54.2 in August from 51.8 in July - contributed significantly to the surge in the Composite PMI score. The manufacturing PMI came in at 47.0, down from 48.0 in the previous month.