Stocks in Europe Fall After PMIs
Major bourses in Europe edged lower on Monday, with the STOXX 50 losing 0.3% and the STOXX 600 falling 0.1%, after flash PMIs for Europe came worse-than-expected.
PMIs for both France and Germany disappointed, pointing to a bigger-than-anticipated fall in manufacturing and a sharper slowdown in services in Germany, while in France, the services sector unexpectedly contracted.
The data raised further concerns about the health of the Eurozone economy. At the same time, traders continue to digest central bank's moves and prospects of more easing. The PBOC lowered the 14-day reverse repurchase rate, and authorities in China announced plans for an economic briefing by three top financial regulators, raising hopes of further stimulus measures in the second largest economy.
Source: Trading Econimic