European stock markets inched higher in early action on
Friday, as investors remained cautious ahead of the much awaited
nonfarm-payrolls report from the U.S.
The Stoxx Europe 600 index climbed 0.2% to 304.02, after closing at its highest level in two months on Thursday.
Among country-specific indexes in Europe, Germany’s DAX 30
index added 0.1% to 8,414.65, while France’s CAC 40 index was slightly
lower at 4,042.45. The U.K.’s FTSE 100 index traded marginally higher at
6,682.57.
Data released showed the Eurozone Producer Price Index rose
0.3% in June, compared with the 0.2% fall in May. This result is almost
in line with expectations of 0.2% growth. Month-over-month EMU PPI
remained unchanged in June, following a 0.3% decrease, as projected.
The UK PMI Construction jumped to 57 In July from 51 in
June, the Chartered Institute of Purchasing & Supply and Markit
Economics reported today. This result considerably exceeds expectations
of an increase to 51.6 and is the highest since June 2010 when it stood
at 58.4.
Data released earlier showed on an annual basis UK
Nationwide Housing Prices increased 3.9% in July, up from the 1.9% rise
the previous month. Analysts expected less growth of 3.1%.
Month-over-month Nationwide Housing Prices edged up 0.8% in July,
following a 0.3% rise in June and above consensus of climbing 0.4%.
Shares of Man Group PLC surged 9.6% after the investment
firm said it swung to a pretax profit for the first half of 2013 from a
loss in the same period last year.
International Consolidated Airlines Group PLC added 3%
after the British Airways parent posted a better-than-expected
second-quarter operating profit of 245 million euros ($324 million).
On a more downbeat note, shares of Royal Bank of Scotland
Group PLC slumped 4.5% after the firm named Ross McEwan as new chief
executive. RBS also reported a first-half net profit of 535 million
pounds ($809 million), after a loss of £2.03 billion last year.
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