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07.04.2015 15:00

European stock markets first hour: Strong start - Indices skyrocket

European stocks skyrocket at the opening after being closed for Easter-holidays on Monday and ahead of Services PMI data the Eurozone, U.K.'s Purchasing Manger Index and Eurozone's PPI. European stocks follow gains in Asia and the U.S.

Data on German Services PMI for March came in higher than expected at 55.4 compared to forecasts of 55.3. The French Services PMI was reported at 52.4, below the estimated 52.8.

The commodity heavy FTSE 100 index is currently trading +1.20% quoted at 6,917.52 points fuelled by sharp gains in energy and mining stocks. Germany's DAX 30 is trading at 12,096.09 points +1.10%. France's CAC 40 is currently trading at 5,129.83 points, +1.10%.

Market focus

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  • The sentix overall index for Euro Area fell again in November from 11.4 to 8.8 points
  • UK consumer credit increased by £0.8bn in September
  • Spanish unemployment continues at its lowest levels in the last 9 years
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