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European stocks fell after German private sector data

2019-04-18 08:14 am | Resource: NEWS | No Views : 161

European stocks fell after German private sector data
European markets were quiet on Thursday in early trading on European bourses ahead of corporate activity data this month in the euro area and the United States.

Data from France have already indicated a slight expansion in the non-manufacturing sector and a moderate decline in factory output. Later in the day, the UK's statistical agency is due to release retail sales figures for March, followed by an equivalent report in the United States.
German private sector activity increased in April

Business activity in the German private sector grew at a slightly faster pace in March, according to a preliminary report released by IHS Markit on Thursday. The IHS Markit Flash Germany Composite Output Index was 52.1 this month, up from a several-year low of 51.4.

Service sector growth was the highest in seven months as Germany's services PMI index rose from 55.4 in March to 55.6 in April. Manufacturing activity improved slightly from the previous month but remained in the deflation zone as the PMI manufacturing index at Flash was 44.5.

"The overall picture of the private sector in Germany has changed little, according to the surprising data for April, as strong growth in the services economy continues to counter export-led weakness," said Phil Smith, chief economist at IHSMarket. "The slight rise in manufacturing indices for new production and orders and employment The PMI saw its first rise in nine months, although the last reading is at least the second since mid-2012."

European Stocks Open
  • The FTSE 100 fell 0.06% only at 9:20 am CET in London, led by BAE Systems by 2.35%.
  • Germany's DAX <.DXI> fell 0.1%, with the AirCard falling 1.51% from yesterday's high, with a three-day winning streak dropping from top to bottom.
  • The CAC 40 index fell 0.27%. Kering was the worst performer among French stocks, falling 5.4%.

Market contrast
  • The price of gold did not change at $ 1,273.77 an ounce.
  • The euro was steady at 1.19962 against the dollar.
  • The euro fell to the level of 0.8663 pounds sterling.
  • The pound fell slightly to 1.3038 against the dollar.
  • British and German sovereign debt bonds have changed only slightly.

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