Investing.com - European stocks held gains on Monday, supported by the release of upbeat manufacturing data out of the euro zone as well as by growing speculation the European Central Bank may add more stimulus measures in the near future.
During European afternoon trade, the EURO STOXX 50 rose 0.27%, France’s CAC 40 edged up 0.21%, while Germany’s DAX 30 added 0.30%.
Revised data on Monday showed that the euro zone manufacturing purchasing managers’ index edged up 51.3 in October from a final reading of 51.1 in September.
Germany’s manufacturing PMI rose to 51.7 last month from 51.1 in September as new orders and production levels rose.
European equities also remained supported after data on Thursday showing that euro zone inflation fell to a four year low in October sparked expectations for further rate cuts by the ECB.
Eurostat said consumer price inflation in the currency bloc rose 0.7% in October, the slowest pace since November 2009, after rising 1.1% in September.
Financial stocks were mixed, as BNP Paribas rose 0.09% and Societe Generale declined 0.89% in France, while Germany's Deutsche Bank tumbled 0.98%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA added 0.07% and 0.27% respectively, while Italy's Intesa Sanpaolo dipped 0.03%.
Elsewhere, Dufry AG rose 0.28% after the operator of duty-free shops reported increased revenue.
Also on the upside, PostNL surged 6.88% after the Dutch postal operator raised its income guidance.
In London, commodity-heavy FTSE 100 rose 0.45%, supported by gains in mining stocks and as data showed that activity in the U.K. construction sector expanded at the fastest rate in six years in October.
Vedanta Resources jumped 1.08% and Rio Tinto ralled 2.41%, while rivals Antofagasta and Fresnillo gained 2.33% and 2.79% respectively.
In the financial sector, stocks also remained mostly higher, as HSBC Holdings surged 2.14% after saying third-quarter pretax profit rose 30% as the lender cut costs.
Meanwhile, HSBC Holdings rallied 2.15% and Lloyds Banking gained 0.60%, while the Royal Bank of Scotland still underperformed, down 2.02%.
Ryanair Holdings dove 11.51% after cutting its profit forecast, due to rising competition and a weaker economy in Europe.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.23% rise, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.36% increase.
Later in the day, the U.S. was to release data on factory orders.
During European afternoon trade, the EURO STOXX 50 rose 0.27%, France’s CAC 40 edged up 0.21%, while Germany’s DAX 30 added 0.30%.
Revised data on Monday showed that the euro zone manufacturing purchasing managers’ index edged up 51.3 in October from a final reading of 51.1 in September.
Germany’s manufacturing PMI rose to 51.7 last month from 51.1 in September as new orders and production levels rose.
European equities also remained supported after data on Thursday showing that euro zone inflation fell to a four year low in October sparked expectations for further rate cuts by the ECB.
Eurostat said consumer price inflation in the currency bloc rose 0.7% in October, the slowest pace since November 2009, after rising 1.1% in September.
Financial stocks were mixed, as BNP Paribas rose 0.09% and Societe Generale declined 0.89% in France, while Germany's Deutsche Bank tumbled 0.98%.
Among peripheral lenders, Spanish banks Banco Santander and BBVA added 0.07% and 0.27% respectively, while Italy's Intesa Sanpaolo dipped 0.03%.
Elsewhere, Dufry AG rose 0.28% after the operator of duty-free shops reported increased revenue.
Also on the upside, PostNL surged 6.88% after the Dutch postal operator raised its income guidance.
In London, commodity-heavy FTSE 100 rose 0.45%, supported by gains in mining stocks and as data showed that activity in the U.K. construction sector expanded at the fastest rate in six years in October.
Vedanta Resources jumped 1.08% and Rio Tinto ralled 2.41%, while rivals Antofagasta and Fresnillo gained 2.33% and 2.79% respectively.
In the financial sector, stocks also remained mostly higher, as HSBC Holdings surged 2.14% after saying third-quarter pretax profit rose 30% as the lender cut costs.
Meanwhile, HSBC Holdings rallied 2.15% and Lloyds Banking gained 0.60%, while the Royal Bank of Scotland still underperformed, down 2.02%.
Ryanair Holdings dove 11.51% after cutting its profit forecast, due to rising competition and a weaker economy in Europe.
In the U.S., equity markets pointed to a higher open. The Dow Jones Industrial Average futures pointed to a 0.23% rise, S&P 500 futures signaled a 0.22% gain, while the Nasdaq 100 futures indicated a 0.36% increase.
Later in the day, the U.S. was to release data on factory orders.