The preliminary readings of PMI indices of the two largest Euro area economies have been announced. In both cases, we have a negative surprise in the industrial sector and positive in the sector of services. In the case of France, the industry index returned to the values typically associated with recession.
Currently, we see larger declines from Euroland. The DAX index lost after opening 0.9 percent and now its decline was deepened to 1.6 percent. In Paris the CAC40 lost 1.25 percent.