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- European Stocks. First hour: European stocks dipped
European Stocks. First hour: European stocks dipped
European stocks are quoted lower in early trading after disappointing preliminary data on manufacturing and service sector activity. French manufacturing PMI for November showed a sector deterioration reading 47.6 with a forecast of 48.9. German preliminary data showing a stall with the manufacturing PMI at 50.0 not meeting forecasts at 51.1 and the service PMI at 52.1, 2.4 points below forecasts. Eurozone's manufacturing PMI declined to 50.4 (forecast 50.9), services PMI fell to 51.3 (forecast 52.3).
The FTSE 100 index is currently trading lower at -0.41% at 6,668.98 points, Germany's DAX 30 is down -0.73% trading at 9,403.96 points and France's CAC 40 lost the most at -0.90% currently quoted at 4,227.69 points. Markets are awaiting the release of U.S. data on initial jobless claims, consumer price indices, existing home sales and the Philadelphia Fed Manufacturing Survey later in today's session and Eurozone's consumer confidence.
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