Europe Stocks Up, Experts Believe Boost from China Data behind it
China data has proved to be a big boost for Europe stocks as a good jump has been cited in the European stock markets with the start of December.
On Monday, the European stock markets were cited to be at a high with resource firms in the lead, which market experts believe is the effect of the encouraging manufacturing data from China.
According to the reports on market, the Stoxx Europe 600 index was up by 0.3 percent reaching to 276.52 by posting a 2 percent monthly gain on Friday. But shares of Cable & Wireless Communications PLC were down by 6.6 percent, after the firm's decision of selling a chunk of its Monaco & Islands division for $680 million in cash.
Rest, shares of mining firms and oil companies were all on the rise with Chinese business-activity data continuously showing improvement in the manufacturing sector.
Reports when studied in detail cleared that the official purchasing managers' index has improved since October as it has risen to 50.6 in November by marking an up of 0.4 points from October. It has finally reached above the
50-level mark, which separates contraction from expansion.
Also, the final reading of Markit's manufacturing purchasing managers index in Europe reached 46.2 in November by rising up from 45.4 in October along with shares of miner Kazakhmys PLC rising by 2%, Rio Tinto PLC picking up at 1.3%, Oil group Royal Dutch Shell PLC increasing by 0.3% and BG Group PLC rising by 0.5%.
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