AvaTrade | Nov 07, 2017 04:06AM ET
European markets paused on Monday, despite mostly positive economic data. Final PMI numbers confirmed solid economic growth in the region, as well as improving investor confidence according to the Sentix indicator. The Sentix Investor Confidence Index rose without causing any particular movement in equity markets. France’s CAC 40 lost 0.19% to close at 5,507.25, while the EuroStoxx 50 index fell 0.21% to 3,682.6 and Germany’s DAX slipped 0.07% to close at 13,468.79.
Deutsche Telekom (DE:DTEGn) plummeted 3.04% to close at 15.17 euros. It was the German telecom operators’s worst drop since merger talks between its U.S. subsidiary T-Mobile and rival company Sprint failed.
In France, the final composite purchasing managers’ index (PMI) for October hit 57.4, compared to expectations for a reading of 57.5. In the euro zone, producer prices increased by 0.6% in September. The bloc’s final IHS-Markit composite PMI was at 56 in October, down from a previous estimate of 56.7 and compared to expectations for a decline to 55.9.
In Germany, the final IHS-Markit composite PMI hit a two-year low of 56.6 in October, down from an initial estimate of 56.9 and following a reading of 57.7 in the previous month. More specifically, the services PMI reached 54.7 last month, compared to an initial estimate of 55.2 and down from September’s reading of 55.6.
Also in Germany, factory orders increased by 1% in September, after climbing 4.1% the previous month.
Wall Street ended the first day of the week moderately higher. The Nasdaq outperformed as broad gains in the semiconductor sector offset losses posted by the telecom sector.
The Dow Jones added 9.23 points or 0.04% to hit 23,548.42, while the S&P-500 advanced by 3.29 points or 0.13% to end the session at 2,591.13. Both the Dow and the Nasdaq closed at new record highs.
CAC 40: -0.19%
DAX: -0.07%
DOW JONES: +0.08%
NASDAQ: +0.35%
NIKKEI 225: +1.79%
Gold –
Oil –
EUR/USD –
Bitcoin/USD –
S&P 500 (USA 500) –
Dax –
Cac 40 –
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