European Equities Close Mostly Higher in Wednesday Trading
The European stock markets closed mostly higher in Wednesday trading as The Stoxx Europe 600 rose 1.01%, Germany's DAX gained 3.55%, the FTSE 100 in London was off 0.04%, France's CAC 40 advanced 1.56%, and the Swiss Market Index gained 0.82%.
The eurozone economy remained in expansion territory in February but hovered near contraction territory as the seasonally adjusted HCOB Eurozone Composite PMI Output Index was 50.2 in February, the same as January. The index, however, remains below its long-term average of 52.4.
In the UK, the headline seasonally adjusted S&P Global UK Services PMI Business Activity Index rose to 51.0 in February, up marginally from 50.8 in January and remained above the 50.0-point threshold separating expansion from contraction for the 16th straight month. However, the reading remained well below its long-term average of 54.3.
In Switzerland, the consumer price index increased by 0.6% in February compared with January rising to 107.4 points, while inflation was 0.3% compared with the same month a year earlier, according to the Swiss Federal Statistical Office.
Source: MTN newswires
