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- European stock markets mid session: stocks traded higher on hopes for a deal between Athens and its creditors
European stock markets mid session: stocks traded higher on hopes for a deal between Athens and its creditors
Stock indices traded higher on hopes for a deal between Athens and its creditors. The head of the Eurogroup Jeroen Dijsselbloem said after the Eurogroup's meeting on Monday that a deal between Greece and its creditors could be reached this week.
"I am convinced that we will find an agreement this week. It's vital"." the EU's Economic and Financial Affairs Commissioner Pierre Moscovici said last night.
Meanwhile, the economic data from the Eurozone was better-than-expected. Eurozone's preliminary manufacturing PMI increased to 52.5 in June from 52.2 in May. Analysts had expected index to remain unchanged at 52.2.
Eurozone's preliminary services PMI rose to 54.4 in June from 53.8 in May. Analysts had expected the index to fall to 53.6.
Markit's Chief Economist Chris Williamson said that Eurozone's economy is expected to grow around 2.0% this year, depending on the outcome of the Greek debt talks.
He also said that the figures indicate a 0.4% growth of the economy in the Eurozone in the second quarter.
Germany's preliminary manufacturing PMI climbed to 51.9 in June from 51.1 in May, exceeding forecasts of an increase to 51.3.
Germany's preliminary services PMI was up to 54.2 in June from 53.0 in May. Analysts had expected index to remain unchanged at 53.0.
Markit's economist Oliver Kolodseike noted that the figures showed "a mixed picture of the health of Germany's private sector economy".
France's preliminary manufacturing PMI rose to 50.5 in June from 49.4 in May, beating forecasts of a rise to 49.5.
France's preliminary services PMI increased to 54.1 in June from 52.8 in May, beating expectations for a decline to 52.6. It was the highest level since August 2011.
The Senior Economist at Markit Jack Kennedy said that "the figures bode well for second quarter GDP".
Current figures:
Name Price Change Change %
FTSE 100 6,836.74 +11.07 +0.16 %
DAX 11,563.99 +103.49 +0.90 %
CAC 40 5,048.82 +50.21 +1.00 %
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