European Stock Market Indexes Moderately Higher After Business Activities Indexes Improved In December

Bridgette Randall
06 Jan, 2025
London

Stock market indexes in the eurozone advanced in Monday's trading, and investors reacted to the latest updates on the manufacturing and services activities. 

Benchmark indexes in Frankfurt, Paris, and Milan advanced, but in London eased as investors reacted to weak but improving business activities.

The HCOB Germany Composite PMI improved to 48.0 in December from 47.2 in November, said S&P Global in a report released on Monday. 

The HCOB France Composite PMI was revised to 47.5 in December from the preliminary estimate of 46.7 and from a ten-month low of 45.9 in November, said S&P Global in a separate report on Monday. 

The Euro Area's Composite PMI advanced to 49.6 in December from 48.30 in November, S&P Global said in a separate report on Monday.

Service sector activities picked up growth in the eurozone, Germany, and France in December. 

Services PMI in the eurozone increased to 51.6 from 49.6; in Germany it rose to 51.30 from 49.20, and in France to 49.30 from 46.90 in the previous month, respectively. 

 

Europe Indexes and Yields

The DAX index increased by 0.4% to 19,988.87; the CAC-40 index rose by 0.6% to 7,322.36; and the FTSE 100 index inched lower by 0.1% to 8,215.44. 

The yield on 10-year German bonds edged higher to 2.43%, French bonds rose to 3.27%, the UK gilts decreased to 4.60%, and Italian bonds rose to 3.58%.

The euro edged lower to $1.033; the British pound inched down to $1.246; and the U.S. dollar strengthened to 90.64 Swiss cents.

Brent crude increased $0.03 to $76.53 a barrel, and the Dutch TTF natural gas fell by €0.99 to €48.66 per MWh. 

 

Europe Stock Movers

Automobile makers advanced in Frankfurt and Paris, and luxury stocks in Paris rebounded from last week's weakness. 

Volkswagen AG gained 3.4% to €89.74, Mercedes-Benz Group jumped 4.2% to €54.56, and Porsche Automobil Holding SE advanced 3.2% to €37.09. 

Hermes International gained 3.4% to €2,312.0, LVMH Moet Hennessy increased 3.4% to €632.0, and Kering SA added 2.4% to €231.0. 

BNP Paribas SA gained 2.9% to €59.97, Societe Generale increased 3.3% to €27.41, and UniCredit SpA advanced 1.2% to €38.79.