ROME: European stocks charged higher at the close in a positive start to the second quarter on the back of upbeat manufacturing data in China and the eurozone, dealers said.
London’s benchmark FTSE 100 index gained 0.5 per cent on the day to 6,809.5 points, Frankfurt’s DAX 30 index climbed 0.3 per cent to 12,001.38 points, and the CAC 40 in Paris rose 0.6 per cent to 5,062.22 points.
The European single currency also rose to $US1.0771 from $US1.0741 late in New York on Tuesday.
“European stocks got off to a strong start to the first session of the second quarter as economic data released earlier today indicated that the recovery in the eurozone is well on track, dispelling concerns that have kept the pressure on risk assets in recent sessions,” Sucden Financial Research analyst Kash Kamal said.
Eurozone manufacturing activity accelerated sharply in March in a fresh sign of economic recovery, a key survey showed.
Markit Economics said its Purchasing Managers Output Index (PMI) for the 19-nation single currency bloc’s manufacturing sector climbed to 52.2 points last month from 51 in February, according to a second estimate, putting it well above the 50-points boom or bust line.
