European Shares Edge Higher After PMI Data
(RTTNews) - European stocks traded higher on Wednesday as a selloff in longer-dated bonds appeared to stabilize, and a survey showed the euro zone economy continued its slow expansion in August despite a weakening in services sector growth.
The HCOB Eurozone Composite Purchasing Managers' Index (PMI) edged up from 50.9 in July to 51.0, marking a 12-month high.
Elsewhere, the U.K. Composite PMI was revised slightly higher to 53.5 from an initial estimate of 53.0.
Comments from European Central Bank President Christine Lagarde and the release of U.S. job openings data for July will be in the spotlight as the session progresses.
The pan-European STOXX 600 climbed 0.6 percent to 546.20 after tumbling 1.5 percent on Tuesday, the most in a month on worries about rising bond yields.
The German DAX added 0.6 percent, France's CAC 40 rallied 1 percent and the U.K.'s FTSE 100 was up 0.4 percent.
Swedish construction firm Skanska gained 1 percent on securing a USD 73 million contract in the United States.
Cairn Homes shares fell 1.6 percent after the British housebuilder posted a drop in first-half profit.
Equipment rental company Ashtead Group advanced 1.5 percent after posting in-line quarterly results and lifting its free cash flow guidance.
Watches of Switzerland surged 7.3 percent after reporting strong trading and growth across key markets for the 18 weeks to 31 August 2025.
Swiss Life Holding dropped 1.7 percent as the insurer posted a lower first-half net profit.
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