Europe Markets: European stocks rise, with Nike rivals and automakers advancing
European stocks rose on Wednesday, as investors brushed off a mixed batch of purchasing managers data and shares of sportswear makers and automakers rose.
The Stoxx Europe 600 index SXXP,
The euro EURUSD,
The IHS Markit flash eurozone manufacturing PMI rose to 53.7 from 51.7, while the services PMI dropped to 47.6 from 51.9 in September. The composite PMI barely above 50, indicating a hit to the overall economy as coronavirus cases increased across the region. But there were some improvements in manufacturing.
Elsewhere, data from market-research group GfK showed German consumer sentiment is set to stabilize in October, after a sharp fall in September.
Investors continue to watch the rise in coronavirus cases across Europe, with U.K. Prime Minister Boris Johnson announcing new restrictions for the country on Tuesday. He spoke of “unquestionably difficult months to come,” and warned that if people refuse to cooperate, the government will take measures further.
Italy has reportedly shut its borders with France, saying it will now require COVID-19 tests for those travelers.
Stock futures YM00,
Shares of Nike NKE,
Automakers are also climbing, with shares of Peugeot UG,
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