European stock markets mid-session: indices add strong gains
European stocks mostly extend early gains as data boosts sentiment although Greece remains in the focus. Over the weekend Greek finance minister Yanis Varoufakis said that Greece will meet all obligations to all its creditors, seeking to calm default fears. A lower euro lend further support to European stocks. After Friday's weaker-than-expected U.S. jobs data and dovish comments by FED member Lockhart a U.S. rate hike in the middle of the year seems less probable.
The final Services PMI for the Eurozone rose less than expected with a reading of 54.2 points compared to forecasts of 54.3 points but still higher than the previous reading of 53.7 points. 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.vand below the February reading of 53.4.
Sentix Investor Confidence in the Eurozone rose to a seasonally adjusted 20.0 for April, higher than the previous reading of 18.6 but below the estimated increase to 20.9.
U.K.'s Purchasing Manager Index for March rose from 56.7 to 58.9, beating estimates for an increase to 57.1.
Eurozone's Producer Prices for February rose from a previous reading of -0.9% in January to +0.5% in February, more than the expected increase to +0.1%.
The FTSE 100 index is currently trading +1.38% quoted at 6,927.70. Germany's DAX 30 added +0.93% trading at 12,078.92. France's CAC 40 is currently trading at 5,139.77 points, +1.29%.
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