European equity markets posted gains on Tuesday. Investors were attentive to corporate balance sheets and also to indicators for the region.
The pan-European Stoxx 600 index closed up 1.28% at 474.86 points.
On the data agenda, the euro zone’s industrial purchasing managers’ index (PMI) rose from 58.0 in December to 58.7 in January, the highest since last August, but below the preliminary and forecast, both of 59.0.
In Germany, the industrial PMI rose from 57.4 in December to 59.8 in January, the highest in five months, but also lower than the preliminary reading and the previous one, both at 60.5.
For Pantheon, the eurozone manufacturing PMI is gaining strength but “is not out of the woods” and the picture is still struggling to meet demand. Still in the region, the unemployment rate fell from 7.1% in November to 7.0% in December, according to Eurostat.
Analysts predicted, in this case, 7.2%. According to Capital Economics, the indicator suggests that wage growth should start to pick up in the euro zone. After the unemployment data, European stocks extended gains.
Among stocks in focus, UBS rose 8.04%, after having published a balance sheet with better-than-expected quarterly earnings in the fourth quarter. Still among the region’s large banks, Barclays rose 1.97% in London and Société Générale, also 1.97% in Paris. Santander advanced 2.28% in Madrid.
On the London Stock Exchange, the FTSE 100 index closed up 0.83%, at 7,526.13 points.
In Frankfurt, the DAX index rose 0.96% to 15,619.39 points.
On the Paris Stock Exchange, the CAC 40 index advanced 1.43% to 7,099.49 points.
In Milan, the FTSE MIB index gained 1.53% at 27,224.89 points, closing at the highest of the day.
On the Madrid Stock Exchange, the IBEX 35 index rose 1.29% to 8,724.15 points.
In Lisbon, the PSI 20 advanced 1.10%, to 5,625.56 points, closing at the daily high.
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