7:21 AM · 23 June 2020

Stocks soar on strong PMIs

Preliminary PMI indices from France came in above market expectations and all gauges returned into expansion territory.

Manufacturing: 52.1 vs 46 expected (previous 40.6)
Services: 50.3 vs 45.2 expected (previous 31.1)
Composite : 51.3 vs 46.8 expected (previous 32.1)

European stock markets and US futures caught a bid after release and DE30 jumped 90 points in a knee-jerk move. German PMI indices will be released in a few minutes (8:30 am BST) and could offer additional volatility.

DE30 made a big jump after the release of solid French PMIs. Source: xStation5

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