European Stocks Snap Three-Day Loss as Traders Brace for UK PMI
European stocks gain, snapping three straight days of declines after they posted the worst monthly drop in a year on Thursday.
The Stoxx Europe 600 Index gained 0.5% as of 8:16 a.m. in London. Energy and consumer products and services led gains while travel and leisure underperformed. Among single stocks, Fielmann Group AG fell in early trading before being halted for volatility after posting a miss. Reckitt Benckiser Group Plc surged as much as 11% after a unit was cleared by a jury over claims it hid risks relating to premature-infant formulas.
In a quieter day on the earnings front, investors were looking forward to final manufacturing PMI from the UK and US payrolls data later in the day.
The UK’s FTSE 250 Index edged up 0.1% after it slumped 1.5% Thursday as bonds extended a selloff that was triggered by the Labour government’s plans for borrowing and fiscal stimulus over the coming years.
Source: Bloomberg