German and French PMIs signal economic stabilization, lifting investor sentiment as corporate earnings support market gains.
European equities advanced as July PMI data pointed to economic resilience. Germany’s composite PMI rebounded above 50, while France’s services and composite PMIs improved, offsetting weak industrial production growth of 0.1% month-over-month in June.
The UKX rose 0.35%, the DAX climbed 0.58%, and the CAC edged up 0.08%. Analysts noted the PMI rebound eased recession fears, though growth remains fragile amid mixed corporate earnings.
Investors await further data to assess the sustainability of the recovery, with focus shifting to upcoming inflation reports.