Stock indices closed slightly higher after explosions (terrorist attacks) at the international airport in Brussels. News reported that at least 31 people have been killed.
Market participants also eyed the economic data from the Eurozone. Markit Economics released its preliminary manufacturing purchasing managers’ index (PMI) for the Eurozone on Tuesday. Eurozone’s preliminary manufacturing PMI rose to 51.4 in March from 51.2 in February. Analysts had expected the index to increase to 51.3.
The increase was driven by a faster growth in output and new orders.
Eurozone’s preliminary services PMI increased to 54.0 in March from 53.3 in February. Analysts had expected the index to remain unchanged at 53.3.
The index was driven by a rise in in new business.
“The Eurozone saw renewed signs of life at the start of spring. The March PMI showed a welcome end to the worrying slowdown trend seen in the first two months of the year, putting the region on course for a 0.3% expansion of GDP in the first quarter “, Markit’s Chief Economist Chris Williamson said.
Germany’s preliminary manufacturing PMI fell to 50.4 in March from 50.5 in February, missing forecasts of a rise to 50.8. The fall in the manufacturing PMI was driven by a weaker increase in new export business.
Germany’s preliminary services PMI was up to 55.5 in March from 55.3 in February. Analysts had expected index to decrease to 55.0. Output charges climbed in the services sector.
France’s preliminary manufacturing PMI dropped to 49.6 in March from 50.2 in February. Analysts had expected the index to remain unchanged at 50.2.
France’s preliminary services PMI climbed to 51.2 in March from 49.2 in February. Analysts had expected the index to rise to 49.5. The services index was driven by a rise in new business.
The Office for National Statistics (ONS) released the consumer price inflation data for the U.K. on Tuesday. The U.K. consumer price index remained unchanged at 0.3% year-on-year in February, missing expectations for a rise to 0.4%.
A rise in food prices offset a drop in the transport sector prices.
On a monthly basis, U.K. consumer prices increased 0.2% in February, missing expectations for a 0.4% gain, after a 0.8% drop in January.
Consumer price inflation excluding food, energy, alcohol and tobacco prices remained unchanged at 1.2% year-on-year in February, in line with expectations.
The Retail Prices Index remained unchanged at 1.3% year-on-year in February, in line with expectations.
The consumer price inflation is below the Bank of England’s 2% target.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,192.74 +8.16 +0.13 %
DAX 9,990 +41.36 +0.42 %
CAC 40 4,431.97 +4.17 +0.09 %
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