European stocks climbed, rebounding from their lowest level in three weeks, as a report showed Germany’s manufacturing and services industries expanded at a faster-than-expected pace.
The Stoxx Europe 600 Index added 0.7% as more than seven shares rose for every one that fell.
A measure of German manufacturing compiled by Markit Economics climbed to 52 in August from 50.7 in July. The median economist estimate had called for a reading of 51.1. The company’s gauge of services advanced to 52.4, beating the median estimate of 51.7.
Earlier the Chinese HSBC Manufacturing PMI for the month of August came at 50.1 vs 48.3 exp and 47.7 last.
Royal Ahold NV rallied the most in six months after the Dutch owner of the Stop & Shop supermarket chain reported second-quarter underlying operating income that exceeded analysts’ estimates.
Wienerberger AG slipped after UBS AG lowered its recommendation on the shares.
Комментариев нет:
Отправить комментарий