Investing.com – European stocks hit an 18-month high on Thursday as reports showed that manufacturing in Europe, China and Britain had expanded in March, and ahead of key U.S. jobs data.
During European late morning trade, the EURO STOXX 50 was up 1.33%; France’s CAC 40 was up 1.09%; and Germany's DAX was up 0.85%, despite disappointing data on German retail sales.
Britain's FTSE 100 gained 0.70% after a survey of purchasing managers showed that British manufacturing activity grew in March at its fastest rate since October 1994, beating economists' expectations.
Also Thursday, private report from the market research firm Markit showed that manufacturing activity in the euro zone expanded during March at the fastest clip since June 2006. Earlier in the day, HSBC said its China Purchasing Managers' Index rose from 55.8 in February to 57 during March, the third highest month-on-month reading in the survey's six-year history.
Banks were among the top performers, with Societe Generale rising 1.55% and Barclays gaining 1%.
The outlook for U.S. markets was also quite rosy: Dow Jones Industrial Average futures indicated a rise of 0.48%, S&P 500 futures pointed to an increase of 0.46% and Nasdaq 100 futures indicated a gain of 0.16%.
Later in the day, the U.S. Labor Department was set to publish an important weekly report on unemployment claims, and an industry group was due to publish a manufacturing purchasing managers' index for the country.
During European late morning trade, the EURO STOXX 50 was up 1.33%; France’s CAC 40 was up 1.09%; and Germany's DAX was up 0.85%, despite disappointing data on German retail sales.
Britain's FTSE 100 gained 0.70% after a survey of purchasing managers showed that British manufacturing activity grew in March at its fastest rate since October 1994, beating economists' expectations.
Also Thursday, private report from the market research firm Markit showed that manufacturing activity in the euro zone expanded during March at the fastest clip since June 2006. Earlier in the day, HSBC said its China Purchasing Managers' Index rose from 55.8 in February to 57 during March, the third highest month-on-month reading in the survey's six-year history.
Banks were among the top performers, with Societe Generale rising 1.55% and Barclays gaining 1%.
The outlook for U.S. markets was also quite rosy: Dow Jones Industrial Average futures indicated a rise of 0.48%, S&P 500 futures pointed to an increase of 0.46% and Nasdaq 100 futures indicated a gain of 0.16%.
Later in the day, the U.S. Labor Department was set to publish an important weekly report on unemployment claims, and an industry group was due to publish a manufacturing purchasing managers' index for the country.