Weaker economic data is not hampering European stock markets
European stock markets opened mostly in the green, as investors digested the latest economic data and prepared for another season of results.
Data released on Monday shows that manufacturing activity is slowing, both in the eurozone and the United States. This Tuesday, data was also known from Germany, which saw exports slump in May, however, investors seemed to remain bullish, with equity markets trading with gains – albeit more moderately.
The Stoxx 600 benchmark for the region increased by 0.17% to 461.77 points, with the real estate sector gaining the most (1.09%). The natural resources sector is the most passive sector.
Among the major movements, ASML contributed the most to the index’s gains, with an increase of 1.02%. The semiconductor maker estimates on the day China announced that From August 1, it will not be possible to export gallium, germanium or more than a dozen derivatives of the two metals – essential for the manufacture of semiconductors – without seeking specific permission from the authorities.
In major European markets, Germany’s Dax rose 0.10%, France’s CAC-40 rose 0.15%, Italy’s FTSE Mib rose 0.16%, Britain’s FTSE 100 rose 0.03%, and Amsterdam’s Aex rose 0.47%. Spanish Ibex 35 scored 0.09%.
US stock exchanges are closed today due to the Independence Day holiday, which would lead to lower trading volumes in the markets.
