Stock indices closed higher on the better-than-expected manufacturing purchasing managers' index (PMI) from the Eurozone. Markit Economics released its final manufacturing PMI for the Eurozone on Monday. Eurozone's final manufacturing purchasing managers' index (PMI) rose to 52.3 in October from 52.0 in September, up from the preliminary reading of 52.0.
"The eurozone manufacturing recovery remains disappointingly insipid. The October survey is signalling factory output growth of only 2% per annum, a lacklustre performance given the amount of central bank stimulus in place," Chris Williamson, Chief Economist at Markit said.
Germany's final manufacturing purchasing managers' index (PMI) declined to 52.1 in September from 52.3 in September, up from the preliminary reading of 51.6.
The decline was driven by a slower production and employment growth.
Markit Economics released its final manufacturing purchasing managers' index (PMI) for France on Monday. France's final manufacturing purchasing managers' index (PMI) remains at 50.6 in October, down from the preliminary reading of 50.7.
Output and new orders increased, while employment declined at the fastest pace since December 2014.
European Central Bank (ECB) Governing Council member Ewald Nowotny said in an interview with the Austrian newspaper Kleine Zeitung newspaper on Monday that the central bank should add further stimulus measures to boost the inflation in the Eurozone. But he added that there has been made no decision by the ECB.
Markit Economics released its manufacturing purchasing managers' index (PMI) for the U.K. on Monday. The Markit/Chartered Institute of Procurement & Supply manufacturing PMI for the U.K. climbed to 55.5 in October from 51.8 in September, beating expectations for a fall to 51.3. September's figure was revised up from 51.5.
A reading above 50 indicates expansion.
The increase was driven by rises in output and new orders.
"The start of the final quarter saw UK manufacturing spring back into life and record its best month of factory output growth since June 2014. The revival provides a tentative suggestion that the manufacturers are pulling out of their recent funk, having been dogged by recession since the start of the year, and may help boost economic growth in the fourth quarter," Markit's Senior Economist Rob Dobson said.
Indexes on the close:
Name Price Change Change %
FTSE 100 6,361.8 0.71 0.01 %
DAX 10,950.67 100.53 0.93 %
CAC 40 4,916.21 18.55 0.38 %