European stock markets were trading Thursday with the Stoxx Europe 600 up 0.18%, the Swiss market index up 0.64%, France's CAC down 0.02%, London's FTSE up 0.48% and Germany's DAX up 0.19%. , almost finished rising. .
The seasonally adjusted HCOB Eurozone Composite PMI Production Index rose to a 10-month high of 50.3 in March from 49.2 in February, topping the unchanged threshold of 50.0 for the first time since May 2023. did.
Cyrus de la Rubia, chief economist at Hamburg Commercial Bank, said in a release: “The euro area services sector is gradually gaining a foothold, with activity stabilizing in February and moderate growth in March. There are signs,” he said. “It is particularly encouraging that new business has resumed growth after an eight-month drought.
Meanwhile, initial estimates from Eurostat, the European Union's statistical agency, showed that industrial producer prices fell by 1.0% in the euro zone and by 0.9% in the EU in February compared to January. Compared to February 2023, industrial producer prices fell by 8.3% in the euro area and by 8.1% in the EU.
Eurostat also reported that house prices in the fourth quarter of 2023 fell by 1.1% in the euro area and rose by 0.2% in the EU compared to the same period last year.
In the UK, the final seasonally adjusted S&P Global UK Services PMI Business Activity Index stood at 53.1 in March, down from 53.8 in February but still above the neutral threshold of 50 points.
“The recovery in service sector production lost some momentum during March,” Tim Moore, economics director at S&P Global Market Intelligence, said in a release.
In corporate news, Bloomberg reported that French cosmetics company L'Oréal is in talks to acquire a minority stake in luxury fragrance company Amouage from SABCO Group, citing people familiar with the discussions. SABCO cited Amouage's valuation at more than 3 billion euros ($3.2 billion), Bloomberg reported.
Entain said Thursday that Chairman Barry Gibson plans to resign by the end of September. Shares in the UK-based sports betting and gaming company closed 5% higher on London's FTSE.
German carmakers BMW and Volkswagen rose 2.4% and 2.3% respectively on the DAX, followed by Mercedes-Benz and Daimler Trucks with gains of 1.8% and 1.4% respectively, and French carmaker Renault rose 3.2% on the DAX. Auto stocks rose in Thursday trading. C.A.C.
Mining stocks were on the rise in London, with Antofagasta and Fresniro up 4.7% and 3.2% respectively, and Anglo America and Glencore up 3.1% and 1.2% respectively.
