European stocks make a solid comeback on upbeat PMIs

A solid rebound seen in the German stocks triggered a fresh recovery-wave across the European markets, driving major indices back into positive territory. However, thin trading extended into the New Year as the UK and Swiss markets remained closed for a holiday.

The European equities had a softer start to 2017, although quickly regained ground after the Italian, German and Eurozone manufacturing PMI readings bettered expectations and lifted investors’ sentiment. The 19-nation bloc’s manufacturing sector activity expanded last month at the fastest rate since April 2011.

Meanwhile Germany's DAX 30 index jumps +0.88% to 11,580 levels, while the French CAC 40 index trades +0.35% higher at 4,880. The pan-European Euro Stoxx 50 index trades little changed near 3,280 points.