European stocks stall the upsurge, PMIs weigh

FXStreet (Mumbai) – The European stocks are currently cooling-off highs after the solid performance seen in the previous two sessions as the latest release of the German and the Eurozone final manufacturing PMI appear to have dampened investors’ sentiment.

The final manufacturing PMI for the euro zone came in at 52.0 points in Sept and below August’s reading of 52.3. While Germany’s final PMI for manufacturing sector fell to 52.3 in Sept, down from August’s final reading of 53.3 points, against 52.5 expectations.

FTSE firmer on Glencore

The German car-makers pares early gains, which has partly contributed to the retreat in the DAX while traders continue to weigh the PMI readings. While the FTSE clings to heavy gains as the UK’s mining giant extends its recovery mode, now rallying over 5.5%.

Meanwhile, Germany’s DAX pared gains to 9,690 points, up 0.32% while the UK’s FTSE gains 1.56% to 6,155. Among the other indices, the French CAC 40 index gains 1.09% to 4,504, while the pan-European Euro Stoxx 50 index trades higher by 0.67% at 3,121.

The European stocks are currently cooling-off highs after the solid performance seen in the previous two sessions as the latest release of the German and the Eurozone final manufacturing PMI appear to have dampened investors’ sentiment.

(Market News Provided by FXstreet)