European stocks descend notwithstanding mostly positive PMIs
On Friday, European stocks tumbled, notwithstanding the publication of mostly upbeat economic reports from France and Germany, as market participants still waited for upcoming data for the entire euro zone.
In European morning trade, the EURO STOXX 50 went down 0.54%, French CAC 40 lost 0.67%, while German DAX 30 was deprived of 0.23%.
Research group Markit told that in September, its German manufacturing purchasing managers’ index added to 54.3 from 53.6 last month, thus beating expectations for a drop to 53.1.
Besides this, the German services PMI edged down to 50.6 this month from August’s outcome of 51.7.
Markit also added that in September, its French manufacturing PMI grew to 49.5 from 48.3 in August, compared to hopes for a soar to 48.4.
This month the French services PMI managed to grow to 54.1 from 52.3 in August.
In London, commodity-heavy FTSE 100 headed south 0.36%, suppressed by losses in the mining sector.