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Investors received a boost this morning when better-than-expected manufacturing data from the UK and China saw the UK Index rise and fuelled gains in mining and banking.
The first surprise of the year came when Britain’s (UK) manufacturing sector unexpectedly returned to growth for the first time in half a year, giving people hope that the UK could avoid another recession if the sector continues to recover in the coming months.
STOXX Europe 600 and Banks index led the way as the banks were among the best performers across Europe, with both up 1% respectively.
This 1% rise was mirrored in gains for the UK’s major banks (such as…)
STOXX Europe 600 Basic Resources index were among the top performers again as they saw a 0.7% increase, after mining stocks gained strength following improved Chinese figures.
Unfortunately with Greece still unable to agree terms with its creditors the Eurozone debt still hangs unsafely close to causing an economic tremor across the globe.
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