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European close: Bourses lifted by global data
Wed, 08 Feb, 2012
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European close: Bourses lifted by global data
Wed, 1 Sep 2010, 16:22:00
Economic news from other parts of the world ensured that European bourses closed with strong gains. In the US the Institute for Supply Management's factory index rose to 56.3 from 55.5 in July, against expectations of a decline, giving shares a strong lift. Sentiment had already been boosted by Chinese manufacturing data. The east Asian economic powerhouse's official purchasing managers' index rose to 51.7 in August from a 17-month low of 51.2 in July. Frankfurt's Dax 30 climbed 149 points to close at 6,074, France's Cac 40 rose 127 points to 3,618 and the Swiss market finished 151 higher at 6,332. Manufacturing figures in Europe were not so heartening. Activity throughout the eurozone cooled a little in August, though the overall reading still indicated a healthy picture overall. The Markit Eurozone Manufacturing Purchasing Managers' Index for August dropped to 55.1 from 56.7 in July but was better than the initial estimate of 55.0. In company news, the French exchange receoved an early boost from entertainment and telephony giant <b>Vivendi's</b> second quarter figures. Earnings fell to €669m or 0.54 euro a share, from €695m, or 0.58. Adjusted earnings fell 3% to €790m. Chief executive Jean-Bernard Levy highlighted "excellent" numbers from Vivendi's recent acquisitions. French retail giant <b>Carrefour</b> is up over 3% as it moved to a net profit of €82m in the six months to June compared with a €58m loss a year ago. It's targeting expansion in growth markets like Brazil, China, Indonesia and Turkey, and also wants a presence in Russia.
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