📈DE30 surges on upbeat PMIs📈

9:47 AM 16 December 2020

DE30 breaks above 13,500 pts

Major bourses in Europe are trading in the green on Wednesday after fresh PMIs for France and Germany surprised on the upside. French data released at 8:15 am GMT showed manufacturing gauge rising from 49.6 to 51.1 pts (exp. 50.1 pts) and services index increasing from 38.8 pts to 49.20 pts (exp. 40 pts). German data released at 8:30 am GMT showed the manufacturing index rising from 57.8 pts to 58.6 pts (exp. 56.4 pts) and services gauge jumping from 46.0 pts to 47.7 pts (exp. 44.0 pts). As one can see, the maintenance of the restrictions and their tightening did not lead to a decline in sentiment among businesses, at least for now.

The DAX index breaks above the recent highs after the excellent PMI data and reaches new pandemic highs. Source: xStation5

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