European shares were stable on the opening session, Monday, as French PMI report showed a decrease in French business activity, weighing down France’s CAC 40 index. Shares in the euro zone had mixed trends as stimulus and deterrents like upbeat Chinese economic data and escalating violence in Iraq had investors wary.
The pan-European Euro Stoxx 600 Index traded in a narrow range early in trade, keeping flat in its current place. Last week it gained 0.3% following the Fed reserve stimulus that promised to keep interest rates low for a considerable amount of time. Meanwhile, the FTSEurofirst 300 index of top European shares is also flat at 1,394.81 pips.
HSBC’s surveyed purchasing manager index (PMI) on China increased by 50.8 in June, suggesting an expansion in the manufacturing industry, a first in six months and ahead of May’s reading of 49.4. Markit’s surveyed PMI for France, however, was not as positive. Both the manufacturing and the service sectors of France fell from 49.3 to 48, widening the gap from its 50-point line, further solidifying proof that there has been contraction in French business activity.
Alstom SA gained 3.8% following the success of General Electric Co. in overcoming the $17 billion dollar purchase of the energy assets of the company.
The material has been provided by InstaForex Company – www.instaforex.com
European shares were stable on the opening session, Monday, as French PMI report showed a decrease in French business activity, weighing down France’s CAC 40 index. Shares in the euro zone had mixed trends as stimulus and deterrents like upbeat Chinese economic data and escalating violence in Iraq had investors wary.
The pan-European Euro Stoxx 600 Index traded in a narrow range early in trade, keeping flat in its current place. Last week it gained 0.3% following the Fed reserve stimulus that promised to keep interest rates low for a considerable amount of time. Meanwhile, the FTSEurofirst 300 index of top European shares is also flat at 1,394.81 pips.
HSBC’s surveyed purchasing manager index (PMI) on China increased by 50.8 in June, suggesting an expansion in the manufacturing industry, a first in six months and ahead of May’s reading of 49.4. Markit’s surveyed PMI for France, however, was not as positive. Both the manufacturing and the service sectors of France fell from 49.3 to 48, widening the gap from its 50-point line, further solidifying proof that there has been contraction in French business activity.
Alstom SA gained 3.8% following the success of General Electric Co. in overcoming the $17 billion dollar purchase of the energy assets of the company.
The material has been provided by InstaForex Company – www.instaforex.com
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