Economic news

Automakers Push European Stocks up; PMI data, ECB in Focus

European indexes grew on Thursday on the back of auto stocks, which report upbeat results, in particular Daimler. The market participants are focused of economic data due to be posted later, as well as ECB meeting in the eurozone to assess the health of the bloc.

Daimler shares rose by 6.36 percent at 8.23 GMT after a recent report about an 8 percent growth in Q3 operating profit. BMW securities also advanced by 1.21 percent, as well as PSA Group, the securities value of which jumped by 1.33 percent. 

The Germany’s DAX  added 0.59 percent, to 12,873. The pan-European STOXX 600 index climbed by 0.43 percent, to touch 396,73 at 8.27 GMT.

Peugeot securities gained 4.87 percent, Autoliv stocks rose by 1.85 percent, widely supporting the France CAC 40 to build up by 0.44 percent, to 5,678. Atos capitalization increased by 5.31 percent on Thursday.

Italy’s FTSE MIB and Spain’s IBEX 35 grew both by 0.4 percent, to reach 22,441 and 9,422 respectively.

Finland’s telecom maker Nokia shares went down by 20 percent after downgrading profit forecasts at annual rate for this year and the next one, pushing down the Helsinki index by 2 percent.

Meantime the PMI data for eurozone was released and remained the same in October as in the prior month at 45.7, missing markets’ expectations of 46.

Investors will closely eye the ECB policy announcement due to appear at 11.45 GMT.


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