European stocks unchanged in anticipation of economic data
2023.01.24 04:16
European stocks unchanged in anticipation of economic data
By Kristina Sobol
Budrigannews.com – While investors awaited economic data that is anticipated to show a slight improvement in business activity in the euro zone, European stocks edged higher on Tuesday, supported by a fresh run of gains for technology stocks.
After a strong finish on Wall Street, tech stocks, which suffered last year as a result of rising interest rates, helped propel the pan-European index up 0.1%.
Global S&P (NYSE:) The euro zone flash composite PMI is expected to rise to 49.8 in January, up slightly from 49.3 in December, as energy prices fell and inflation eased, according to the flash reading, which is scheduled to take place at 0900 GMT.
According to German magazine Stern, Rheinmetall’s chief executive predicted that sales would rise to 11-12 billion euros (or $12-$13 billion) in 2025, which resulted in an increase of 1.2 percent among stocks.
Group Swatch (SIX:) edged up 0.8 percent after the Swiss watchmaker said that it was optimistic about a recovery in the Chinese market and that sales in 2022 would rise by 2.5 percent.
To top the STOXX 600, shares of Norwegian salmon farmers SalMar and Mowi surged 4.7% and 9.1%, respectively.
