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02.03.2015 16:00

European Stocks. First hour: European indices open higher – Eurozone data in the focus

European stocks open mostly higher on Monday led by the financial and mining sector.

U.K.'s Nationwide House Price Index for February declined to the lowest in in 17 months in February from a previous reading of +0.3% by -0.1%. Year on year the index rose +5.7% compared to +6.8% last year.

France, Germany and the Eurozone reported Manufacturing PMIs. February data from France showed a decline from previous 47.7 to 47.6 below estimates of an unchanged reading. The German PMI rose to 51.1, beating estimates of on unchanged reading of 50.9. Manufacturing PMI for the Eurozone declined to 51.0 coming from a previous reading of 51.1 and 0.1 points below estimates.

Later in the session Eurozone Unemployment Rate and Preliminary Harmonized CPI will be in the focus (10:00 GMT). In the U.S. a set of data including the ISM Manufacturing Index, Personal Income and Spending is will be closely watched.

The commodity heavy FTSE 100 index is currently trading +0.33% quoted at 6,969.43 points boosted by mining stocks. Germany's DAX 30 is trading +0.36 at 11,443.04 points. Both, DAX and FTSE100 are set new all-time highs in today's trading session. France's CAC 40 declined by -0.03%, currently trading at 4,949.80 points.

Market focus

  • Bundesbank: German growth to remain subdued at least in first half of 2019
  • EU will react swiftly if U.S. hits it with car tariffs - European Commission
  • Unemployment in the UK remained at 4%, as expected
  • Bank of Japan Governor Kuroda: BOJ policy does not have currency manipulation as its target
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