2 Jun 2014
European stocks open broadly higher
FXStreet (Córdoba) - European stocks opened higher Monday following the lead of Asian peers on accelerating manufacturing activity in China, as investors await key economic data from the Eurozone this week.
The Stoxx Europe 600 index rose 0.22% to 344.96 after closing a seventh straight week of gains on Friday. Among indexes, UK’s FTSE 100 climbed 0.21%, the German DAX rose 0.26% while the France’s CAC was nearly flat. Italian FTSE MIB advanced 0.23% and Spain’s Ibex 0.32%.
Investors will now be watching the next round of Eurozone PMIs and German Inflation data, ahead of tomorrow’s EZ figures. But key events are not until the end of the week, with the ECB meeting Thursday and the always important US nonfarm payrolls report next Friday.
As for commodities, copper and oil rose helped by better-than-expected Chinese PMI, while gold dropped to a 4-month low sub $1,245 an ounce.
In the FX market, the dollar is a tad firmer versus majors competitors, with the EUR/USD sliding toward 1.3600 early European session. The Australian dollar is among the worst performers, weighed by disappointing Aus building permits data, with the AUD/USD cutting last week’s gains.
The Stoxx Europe 600 index rose 0.22% to 344.96 after closing a seventh straight week of gains on Friday. Among indexes, UK’s FTSE 100 climbed 0.21%, the German DAX rose 0.26% while the France’s CAC was nearly flat. Italian FTSE MIB advanced 0.23% and Spain’s Ibex 0.32%.
Investors will now be watching the next round of Eurozone PMIs and German Inflation data, ahead of tomorrow’s EZ figures. But key events are not until the end of the week, with the ECB meeting Thursday and the always important US nonfarm payrolls report next Friday.
As for commodities, copper and oil rose helped by better-than-expected Chinese PMI, while gold dropped to a 4-month low sub $1,245 an ounce.
In the FX market, the dollar is a tad firmer versus majors competitors, with the EUR/USD sliding toward 1.3600 early European session. The Australian dollar is among the worst performers, weighed by disappointing Aus building permits data, with the AUD/USD cutting last week’s gains.