Shares in Europe rallied at the opening bell on Tuesday’s trading, as the prior downbeat manufacturing in the course of the session added anticipations for further stimulus by the European Central Bank.
In addition, investors are expecting the Germany and the entire euro zone to release reports towards the economic sentiment.
The EURO STOXX 50 climbed by about 0.14% amid European session, while France’s CAC 40 added 0.35% and Germany’s DAX 30 rallied 0.22%.
On Tuesday, it was shown on the data that the preliminary reading of the euro area composite purchasing manager’s index (PMI), which gauges the output combination of the manufacturing and service sectors, dropped to a 16-month low, settling at 52.9, previously at 53.0 in April.
Meanwhile, economists are expecting an increase on an index of 53.2.
Financial stocks have mixed results, as French lenders Societe Generale added 0.39%, BNP Paribas climbed by about 0.17%, while Germany’s Commerzbank declined 0.27% and Deutsche Bank has witnessed 1.58% losses.
In the peripheral lenders, the Intesa Sanpaolo of Italy edge higher by about 0.74% and Unicredit rose 0.96%, while Spanish banks BBVA plunge 0.14% and Banco Santander dropped 0.66%.
Subsequently, Bayer fell 0.57% a day after the German chemicals group has offered an acquisition of Monsanto for about $122 per share in cash, with a $62 billion value of the U.S. company.
Volkswagen was among the upbeat, as it jumped 0.58%, fueled by many investors that called for an independent investigation of the management of the car maker, along with the supervisory board relative to the emission-cheating scandal of the company.
London’s commodity-heavy FTSE 100 dropped by about 0.02%, dragged by a declining share in the mining sector.
Rio Tinto shares traded down by 0.13% and Anglo American lost 0.28%, while Glencore fell 0.99% and Bhp Billiton dipped 1.21%.
Kingfisher was among the top performers in the index, as a 2.08% increase in shares was witnessed after the company announced that it had made a solid start to its new financial year, citing leading sales growth in the countries of Britain and Poland.
The financial sector has mixed results, as HSBC Holdings remained flat at 0.08% and Barclays rebound by 0.46%, while the Royal Bank of Scotland rallied 0.38% and Lloyds Banking added 0.41%.
Apparently, the equity markets in the U.S. remained higher at the opening bell. The Dow Jones Industrial Average futures increased and settled at 0.09%, the S&P 500 futures climbed 0.07%, while the Nasdaq 100 futures rose 0.05%.
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