European equities pulled up by euro zone’s firm growth rate

European equities

Majority of the stocks in Europe advanced on Tuesday’s closing bell as it was supported by strong economic figures for the euro zone. Manchester blast weighed on the pound.

Bourses being on the positive territory were driven by the released economic data suggesting the euro zone was securing a frim growth rate. The composite PMI was at 56.8 as it matches the six-year highs registered last April. The French private sector in particular was higher for the month of May as it was strengthened by the country’s presidential election. This movement also made the French CAC 40 to finish higher by 0.47 percent, along with shares from the bank advancing 0.79 percent.

Meanwhile the European stocks benchmark Stoxx 600 ended the day 0.22 percent higher. DAX in Germany jumped as much as 0.31 percent. The FTSE 100 in the United Kingdom held its gains and closed the session lower by 0.15 percent.

The tech sector was close to touch the summit of the European benchmark on the prior day after Apple and Nokia reached a deal on their intellectual property disagreement and favored a multi-year licence. Stoxx 600 named Nokia as its leading advancer after the Finish company rose more than 6.43 percent in shares.

French mass media conglomerate Vivendi was also one of the best performers as it inched higher by 1.81 percent after the report of Wall Street saying that the firm could lie on the surface of a minority stake in UMG Recordings, Inc.

Blast on Manchester

The bombing at an Ariana Grande concert in the U.K. took the lives of at least 22 people and more than 50 injured. The blast has weighed on the U.K. sterling pound last Tuesday. The terrorist attack also drove Prime Minister Theresa May to cancel her election before next month’s election. 


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